XML 34 R10.htm IDEA: XBRL DOCUMENT

Intangible Assets

12 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 4 – intangible assets

Intangible assets are summarized as follows:

		June 30, 2019				June 30, 2018
Software registration right		$	37,843			$	4,929
Patent			15,286				1,203
Value-added telecommunications business license			11,678				12,049
Technology development			500,000				-
Subtotal			564,807				18,181
Less: Accumulated amortization			8,996				4,294
Total		$	555,811			$	13,887

Amortization expense for the years ended June 30, 2019 and 2018 were $4,864 and $1,687, respectively.

On May 28, 2019, the Company entered into an agreement with SDT Trade Co., Ltd.(“SDT”). SDT will assist the Company on intelligent monitoring, smart bayonet, intelligent border warning, intelligent power, intelligent detection and other technical development work. Pursuant to the agreement, SDT will complete the development work in twelve months and maintain the system for thirty-six months. The total amount to be paid under the agreement is $1,200,000. As of June 30, 2019, the Company paid SDT $500,000 recorded as intangible assets. As of the date of the report, the Company paid SDT an additional $500,000, however, the technology development has not commenced yet since the Company has not decided the details of technology development.