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Intangible assets, net
 9 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible assets, net

Note 8 – Intangible assets, net

 

As of March 31, 2025 and June 30, 2024, intangible assets, net, consisted of the following:

        
   March 31, 2025   June 30, 2024 
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   (2,029,286)   (1,542,257)
Total  $3,143,671   $3,630,700 

 

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, 2025 was approximately 5.45 years. The amortization expense for the three and nine months ended March 31, 2025 was $162,343 and $487,028, respectively. The amortization expense for the three and nine months ended March 31, 2024 was $162,343 and $487,028, respectively. At March 31, 2025, 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 
2025 (excluding the first nine months of the fiscal year ending June 30, 2025)  $162,342 
2026   649,371 
2027   609,277 
2028   468,750 
2029   345,912 
Thereafter   908,019 
Intangible assets, net  $3,143,671