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Intangible assets, net
 3 Months Ended
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible assets, net

Note 10 – Intangible assets, net

 

As of September 30, 2022, intangible assets, net, consisted of the following:

    
  

September 30,

2022

 
Covenant Not to Compete  $3,459,120 
Supplier relationships   1,179,246 
Software   534,591 
Accumulated amortization   (405,858)
Total  $4,767,099 

 

The intangible assets were acquired on February 15, 2022 through the acquisition of Anivia. The weighted average remaining life for finite-lived intangible assets at September 30, 2022 was approximately 8.07 years, and the amortization expense for the three months ended September 30, 2022 was $162,343. At September 30, 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 thereafter is as follows:

    
Year Ending June 30,  Amount 
2023  $487,028 
2024   649,371 
2025   649,371 
2026   649,371 
2027   649,371 
Thereafter   1,682,587 
Intangible assets, net   $4,767,099