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INTANGIBLE ASSETS AND GOODWILL | 3 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS AND GOODWILL | NOTE 5 — INTANGIBLE ASSETS AND GOODWILL On February 13, 2024, the Company acquired Renovaro Cube as a wholly owned subsidiary pursuant to a stock purchase agreement. As part of the acquisition of Renovaro Cube, the Company acquired goodwill valued at $159,464,039. Impairment – During the quarter ended September 30, 2024, the results of the assessment indicated that the carrying value of the RENC reporting unit exceeded its fair value, due to the decline in the estimated fair value of the reporting unit based on the Company’s market capitalization. Management concluded the significant driver for the change in the economic benefits was due to the Company’s continued inability to raise capital for the further development of the technologies within this reporting unit. Therefore, an impairment adjustment of $47,614,729 was recorded for the period ended September 30, 2024. At September 30, 2024 and June 30, 2024, definite-life and indefinite-life intangible assets consisted of the following:
Schedule of definite-life and indefinite-life intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Useful Life |  | June 30, 2024 |  | Additions |  | Amortization |  | Impairment |  | Translation Adjustment |  | September 30, 2024
Definite Life Intangible Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Patents |  | 20 Years |  | $ | 284,977 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 11,644 |  |  | $ | 296,621 |
Less Accumulated Amortization |  |  |  |  | (254,934 | ) |  |  | — |  |  |  | (2,501 | ) |  |  | — |  |  |  | (10,436 | ) |  |  | (267,871 | )
Net Definite-Life Intangible Assets |  |  |  | $ | 30,043 |  |  | $ | — |  |  | $ | (2,501 | ) |  | $ | — |  |  | $ | 1,208 |  |  | $ | 28,750 |
Goodwill |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  |  |  | 159,330,161 |  |  |  | — |  |  |  | — |  |  |  | (47,614,729 | ) |  |  | 6,455,913 |  |  |  | 118,171,345 |
Total Goodwill |  |  |  | $ | 159,330,161 |  |  | $ | — |  |  | $ | — |  |  | $ | (47,614,729 | ) |  | $ | 6,455,913 |  |  | $ | 118,171,345 |
Expected future amortization expense is as follows:
Schedule of expected future amortization expense |  |
Years ended June 30, |  |
| 2025 |  |  | $ | 7,189 |
| 2026 |  |  |  | 7,187 |
| 2027 |  |  |  | 7,187 |
| 2028 |  |  |  | 7,187 |
| Total |  |  | $ | 28,750 |

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