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Intangible assets, net
 9 Months Ended
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible assets, net

Note 10 – Intangible assets, net

 

As of March 31, 2022, intangible assets, net, consisted of the following:

     
   March 31, 2022 
Covenant Not to Compete   3,459,120 
Supplier relationship   1,179,245 
Software   534,591 
Accumulated amortization   (81,171)
Total   5,091,785 

 

The intangible assets were acquired on February 15, 2022 through acquisition of Anivia. The weighted average remaining life for finite-lived intangible assets at March 31, 2022 was approximately 8.57 years, and the amortization expense for the three and nine months ended March 31, 2022 was $81,171. At March 31, 2022, finite-lived intangible assets are expected to be amortized over their estimated useful lives, which ranges from a period of five to 10 years, and the estimated remaining amortization expense for each of the five succeeding years and periods thereafter is as follows:

Schedule of future amortization          
   
Year Ending June 30, Amount
2022 $ 162,343   
2023 649,371   
2024 649,371   
2025 649,371   
2026 649,371   
Thereafter 2,331,958   
  $ 5,091,785