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Intangible Assets
 9 Months Ended 12 Months Ended
Mar. 31, 2019
Jun. 30, 2018
Related Party Transactions [Abstract]    
Intangible Assets

4. Intellectual Property

 

Intellectual property, stated at cost, less accumulated amortization consists of the following:

 

    March 31, 2019   June 30, 2018
         
Intellectual Property   $ 2,293,770     $ 2,293,770  
Accumulated Amortization     681,823       509,790  
Intellectual Property, Net   $ 1,611,947     $ 1,783,980  

 

Amortization expense for the and nine-month periods ended March 31, 2019 and 2018 was $172,033. Estimated future amortization expense is as follows:

 

  Year ending June 2019 (remaining three months)  $                           57,344        
  2020                                   229,377  
  2021                                   229,377  
  2022                                   229,377  
  2023                                   229,377  
  Thereafter                                   637,095  
           $                      1,611,947  

4. Intangible Assets

The company’s intangible assets consist of intellectual property acquired from LAT Pharma, Inc., and are amortized over their estimated useful lives as indicated below. The following is a summary of the intangible assets as of June 30, 2018 and 2017.

 

   June 30, 2018  June 30, 2017
Intangible Assets subject to Amortization  $22,93,770   $22,93,770 
Accumulated Amortization   5,09,790    2,80,413 
Intangible Assets (Net of Amortization  $17,83,980   $20,13,357 

 

Future expected Amortization of intangible assets is as follows:

 

Year Ending June 30,   
2019  $2,29,377 
2020   2,29,377 
2021   2,29,377 
2022   2,29,377 
2023   2,29,377 
Thereafter   6,37,095 
   $17,83,980