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INTANGIBLE ASSETS, NET | 6 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS, NET | NOTE 6. INTANGIBLE ASSETS, NET Intangible assets, net consist of the following as of December 31, 2024: SCHEDULE OF INTANGIBLE ASSETS
|  | Weighted average useful lives (years) |  | Acquisition cost |  |  | Effect of foreign currency |  |  | Accumulated amortization |  |  | Carrying value |
Technology |  | 7 years |  | $ | 5,119,000 |  |  | $ | 553,599 |  |  | $ | 1,941,774 |  |  | $ | 3,730,825 |
Customer relationships |  | 3 years |  |  | 252,000 |  |  |  | 27,253 |  |  |  | 209,440 |  |  |  | 69,813 |
Trade names and trademarks |  | Indefinite |  |  | 92,000 |  |  |  | 9,949 |  |  |  | - |  |  |  | 101,949 |
Total intangible assets |  |  |  | $ | 5,463,000 |  |  | $ | 590,801 |  |  | $ | 2,151,214 |  |  | $ | 3,902,587 |
Intangible assets, net consist of the following as of June 30, 2024:
|  | Weighted average useful lives (years) |  | Acquisition cost |  |  | Effect of foreign currency |  |  | Accumulated amortization |  |  | Carrying value |
Technology |  | 7 years |  | $ | 5,119,000 |  |  | $ | 593,026 |  |  | $ | 1,559,822 |  |  | $ | 4,152,204 |
Customer relationships |  | 3 years |  |  | 252,000 |  |  |  | 29,194 |  |  |  | 164,030 |  |  |  | 117,164 |
Trade names and trademarks |  | Indefinite |  |  | 92,000 |  |  |  | 10,658 |  |  |  | - |  |  |  | 102,658 |
Total intangible assets |  |  |  | $ | 5,463,000 |  |  | $ | 632,878 |  |  | $ | 1,723,852 |  |  | $ | 4,372,026 |
Intangibles assets recognized from the acquisition of IFP were allocated to the IFPG operating and reportable segment. Expenses related to the amortization of intangible assets charged to the condensed consolidated statements of operations and other comprehensive income (loss) for the three months ended December 31, 2024 and 2023 was $240,783 and $227,543, respectively. Expenses related to the amortization of intangible assets charged to the condensed consolidated statements of operations and other comprehensive income (loss) for the six months ended December 31, 2024 and 2023 was $476,247 and $470,696, respectively. Amortization expense for the intangible assets is expected to be as follows over the next five years, and thereafter: SCHEDULE OF EXPECTED AMORTIZATION EXPENSES FOR INTANGIBLE ASSETS
Fiscal year |  | Amount |
Remainder of 2025 |  | $ | 439,260 |
2026 |  |  | 808,708 |
2027 |  |  | 785,437 |
2028 |  |  | 785,437 |
2029 |  |  | 785,437 |
Thereafter |  |  | 196,359 |
Total |  | $ | 3,800,638 |
There were no impairment charges related to intangible assets incurred in the periods presented.

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