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INTANGIBLE ASSETS
 6 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 5. INTANGIBLE ASSETS

 

Intangible assets, their respective amortization period, and accumulated amortization at December 31, 2022 are as follows:

 

                                         
   As of December 31, 2022 
   Value ($)   Amortization Period (Years) 
   AUGGD   XR Terra   S5D   PulpoAR   BLI   inciteVR   Total     
Intangible Assets                                        
Customer Relationships  $250,000   $-   $2,820,000   $-   $3,310,000   $-   $6,380,000    3 -5 
Technology   250,000    300,000    -    925,000    880,000    326,435    2,681,435    3 
Less: Accumulated Amortization   (229,152)   (124,995)   (517,000)   (179,858)   (398,055)   (18,136)   (1,467,196)     
Intangible Assets, net  $270,848   $175,005   $2,303,000   $745,142   $3,791,945   $308,299   $7,594,239      

 

Intangible asset amortization expense for the three and six months ended December 31, 2022 was approximately $0.54 and $ 0.99 million, respectively.

 

Intangible asset amortization expense for the three and six months ended December 31, 2021 was approximately $0.07 and $ 0.09 million, respectively.

 

Estimated intangible asset amortization expense for the remaining lives are as follows:

 

      
Remaining Fiscal Year Ended June 30, 2023  $1,102,000 
Fiscal Year Ended June 30, 2024  $2,203,000 
Fiscal Year Ended June 30, 2025  $1,957,000 
Fiscal Year Ended June 30, 2026  $1,287,000 
Fiscal Year Ended June 30, 2027  $991,000 
Fiscal Year Ended June 30, 2028  $55,000 

 

 

THE GLIMPSE GROUP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

DECEMBER 31, 2022 AND 2021