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Intangible Assets

3 Months Ended

Sep. 30, 2023

Intangible Assets [Abstract]

INTANGIBLE ASSETS

NOTE 4 – INTANGIBLE ASSETS

Intangible assets are summarized as follows:

		September 30, 2023				June 30, 2023
Software registration or using right		$	1,636,801			$	1,635,307
Patent			14,620				14,527
Software and technology development costs			11,684				631,250
Value-added telecommunications business license			15,472				15,374
Subtotal			1,678,577				2,299,458
Less: Accumulated amortization			963,498				1,110,671
Total		$	715,079			$	1,185,787

Software registration or using right represented the purchase cost of customized software with its source code from third party software developer.

Software and technology development cost represented development costs incurred internally after the technological feasibility was established and a working model was produced and was recorded as intangible asset.

Amortization for the three months ended September 30, 2023 and 2022 was $127,211 and $148,903, respectively. The amortization expense for the next five years as of September 30, 2023 will be $508,844, $206,235, $0, $0 and $0.

The Company disposed $0.62 million intangible assets with related accumulated amortization of $0.28 million resulting from the disposal of Zhangxun (see Note 13).