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GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

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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- References

No definition available.

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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

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