XML 23 R13.htm IDEA: XBRL DOCUMENT v3.23.3
GOODWILL AND INTANGIBLE ASSETS
 3 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS

NOTE 6. GOODWILL AND INTANGIBLE ASSETS

 

The composition of goodwill at September 30, 2023 is as follows:

 

   XRT   Pulpo   BLI   Total 
   Three Months ended September 30, 2023 
   XRT   Pulpo   BLI   Total 
Goodwill - beginning of year  $300,000   $379,038   $10,557,600   $11,236,638 
Impairments   -    (379,038)   -    (379,038)
Goodwill - end of period  $300,000   $-   $10,557,600   $10,857,600 

 

Intangible assets, their respective amortization period, and accumulated amortization at September 30, 2023 are as follows:

 

   XR Terra   BLI   inciteVR   Total     
   As of September 30, 2023 
   Value ($)   Amortization Period (Years) 
   XR Terra   BLI   inciteVR   Total     
Intangible Assets                         
Customer Relationships  $-   $3,310,000   $-   $3,310,000    5 
Technology   300,000    880,000    326,435    1,506,435    3 
Less: Accumulated Amortization   (199,995)   (1,114,555)   (99,744)   (1,414,294)     
Intangible Assets, net  $100,005   $3,075,445   $226,691   $3,402,141      

 

Intangible asset amortization expense for the three months ended September 30, 2023 and 2022 was approximately $0.37 million and $0.44 million, respectively. Both periods include $0.08 million of amortization attributable to Pulpo.

 

 

THE GLIMPSE GROUP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

SEPTEMBER 30, 2023 AND 2022

 

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

 

      
Fiscal Year Ended June 30, 2024  $873,000 
Fiscal Year Ended June 30, 2025  $1,089,000 
Fiscal Year Ended June 30, 2026  $723,000 
Fiscal Year Ended June 30, 2027  $662,000 
Fiscal Year Ended June 30, 2028  $55,000