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GOODWILL AND INTANGIBLE ASSETS | 9 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | NOTE 5. GOODWILL AND INTANGIBLE ASSETS The composition of goodwill at March 31, 2024 is as follows: SCHEDULE OF COMPOSITION OF GOODWILL
|  | XRT |  |  | PulpoAR |  |  | BLI |  |  | Total |
|  | Nine Months ended March 31, 2024 |
|  | XRT |  |  | PulpoAR |  |  | 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 March 31, 2024 are as follows: SCHEDULE OF INTANGIBLE ASSETS, AMORTIZATION PERIOD AND ACCUMULATED AMORTIZATION
|  | XR Terra |  |  | Pulpo |  |  | BLI |  |  | inciteVR |  |  | Total |  |  |  |
|  | As of March 31, 2024 |
|  | Value ($) |  |  | Amortization Period (Years) |
|  | XR Terra |  |  | Pulpo |  |  | BLI |  |  | inciteVR |  |  | Total |  |  |  |
Intangible Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer Relationships - beginning of year |  | $ | - |  |  | $ | - |  |  | $ | 3,310,000 |  |  | $ | - |  |  | $ | 3,310,000 |  |  | 5 |
Technology - beginning of year |  |  | 300,000 |  |  |  | 925,000 |  |  |  | 880,000 |  |  |  | 326,435 |  |  |  | 2,431,435 |  |  | 3 |
Technology impairment |  |  | - |  |  |  | (925,000 | ) |  |  | - |  |  |  | - |  |  |  | (925,000 | ) |  |  |
Customer Relationships - end of period |  |  | - |  |  |  | - |  |  |  | 3,310,000 |  |  |  | - |  |  |  | 3,310,000 |  |  |  |
Technology - end of period |  |  | 300,000 |  |  |  | - |  |  |  | 880,000 |  |  |  | 326,435 |  |  |  | 1,506,435 |  |  |  |
Less: Accumulated Amortization |  |  | (249,994 | ) |  |  | - |  |  |  | (1,592,221 | ) |  |  | (154,152 | ) |  |  | (1,996,367 | ) |  |  |
Intangible Assets, net |  | $ | 50,006 |  |  | $ | - |  |  | $ | 2,597,779 |  |  | $ | 172,283 |  |  | $ | 2,820,068 |  |  |  |
Intangible asset amortization expense for the three and nine months ended March 31, 2024 was approximately $0.29 million and $0.95 million, respectively. Amortization attributable to Pulpo was zero and $0.08 million for the three and nine months ended March 31, 2024. Intangible asset amortization expense for the three and nine months ended March 31, 2023 was approximately $0.55 million and $1.54 million, respectively. Amortization attributable to Pulpo was $0.08 million and $0.23 million for the three and nine months ended March 31, 2023. THE GLIMPSE GROUP, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) MARCH 31, 2024 AND 2023 Estimated intangible asset amortization expense for the remaining lives are as follows: SCHEDULE OF INTANGIBLE ASSET AMORTIZATION EXPENSE
Years Ended June 30, |  |  |  |
2024 (remaining 3 months) |  |  | $ | 291,000 |
2025 |  |  | $ | 1,089,000 |
2026 |  |  | $ | 723,000 |
2027 |  |  | $ | 662,000 |
2028 |  |  | $ | 55,000 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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