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4. DEFINITE LIVED INTANGIBLE ASSETS

9 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

DEFINITE LIVED INTANGIBLE ASSETS

NOTE 4 – DEFINITE LIVED INTANGIBLE ASSETS

The definite lived intangible assets consisted of the following as of March 31, 2021:

Definite lived intangible assets:		Expected Life		Average Remaining life		Gross Intangible Assets				Less Accumulated Amortization				Net Intangible Assets
Complete technology		3 years		0.8 years			18,397				13,798				4,599
Technology in progress		Not Applicable		–			644,097				–				644,097
Software		5 years		2.5 years			528,012				385,404				142,608
Patents		10 years		6.2 years			20,877				12,400				8,477
Certifications & licenses		3 years		1.8 years			4,122,105				3,549,333				572,772
Total as of March 31, 2021						$	5,333,488			$	3,960,935			$	1,372,553

The definite lived intangible assets consisted of the following as of June 30, 2020:

Definite lived intangible assets:		Expected Life		Average Remaining life		Gross Intangible Assets				Less Accumulated Amortization				Net Intangible Assets
Complete technology		3 years		1.8 years			18,397				7,666				10,731
Technology in progress		Not Applicable		–			140,192				–				140,192
Software		5 years		2.9 years			525,930				338,593				187,337
Patents		10 years		7.0 years			20,734				10,821				9,913
Certifications & licenses		3 years		1.9 years			4,038,764				3,261,785				776,979
Total as of June 30, 2020						$	4,744,017			$	3,618,865			$	1,125,152

Amortization expense recognized for the three months ended March 31, 2021 and 2020 was $101,535 and $146,114 respectively, and for the nine months ended March 31, 2021 and 2020 was $342,070 and $344,382, respectively. The amortization expenses of the definite lived intangible assets for the future are as follows:

		FY2021				FY2022				FY2023				FY2024				FY2025				Thereafter
Total		$	150,521			$	579,236			$	385,122			$	189,389			$	26,745			$	41,540

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- References

No definition available.

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- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-URI http://asc.fasb.org/topic&trid=2144416

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