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Intangible assets, net

6 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Note 10 – Intangible assets, net

As of December 31, 2023 and June 30, 2023, intangible assets, net, consisted of the following:

Schedule of intangible assets, net
	December 31, 2023			June 30, 2023
Covenant not to compete	$	3,459,120		$	3,459,120
Supplier relationships		1,179,246			1,179,246
Software		534,591			534,591
Accumulated amortization		(1,217,572	)		(892,886	)
Total	$	3,955,385		$	4,280,071

The intangible assets were acquired on February 15, 2022 through acquisition of Anivia. The weighted average remaining life for finite-lived intangible assets at December 31, 2023 was approximately 6.7 years. The amortization expense for the three and six months ended December 31, 2023 and 2022 was $162,343 and $324,686, respectively. The amortization expense for the three and six months ended December 31, 2022 was $162,343 and $324,686, respectively. At December 31, 2023, 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:

Schedule of amortization expense
Year Ending June 30,	Amount
2024	$	324,686
2025		649,371
2026		649,371
2027		609,277
2028		468,750
Thereafter		1,253,930
Intangible assets, net	$	3,955,385