7. INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2016

Intangible Assets

INTANGIBLE ASSETS

Intangible assets consisted of the following:

	June 30,			June 30,
	2016			2015
Brand name	$	402,123		$	-
Domain name		36,913			-
Customer relationships		500,252			-
Non-compete agreement		84,982			-
Recipes		21,601			-
Total		1,045,871			-
Less : Accumulated Amortization		(27,658	)		-
Net Intangibles	$	1,018,213		$	-

CUSTOMER RELATIONSHIP

On August 11, 2105, the Company acquired Gourmet Foods, Ltd. The fair value on the acquired customer relationships was estimated to be $66,153 and is amortized over the remaining useful life of 10 years. On June 2, 2016, the Company acquired Brigadier Security Systems. The fair value on the acquired customer relationships was estimated to be $434,098 and is amortized over the remaining useful life of 10 years.

	June 30, 2016			June 30, 2015
Customer relationships	$	500,252			-
Less: accumulated amortization		(9,659	)		-
Total customer relationships, net	$	490,593			-

BRAND NAME

On August 11, 2105, the Company acquired Gourmet Foods, Ltd. The fair value on the acquired brand name was estimated to be $61,429 and is amortized over the remaining useful life of 10 years. On June 2, 2016, the Company acquired Brigadier Security Systems. The fair value on the acquired brand name was estimated to be $340,694 and is amortized over the remaining useful life of 10 years.

	June 30, 2016			June 30, 2015
Brand name	$	402,123			-
Less: accumulated amortization		(8,447	)		-
Total brand name, net	$	393,696			-

DOMAIN NAME

On August 11, 2105, the Company acquired Gourmet Foods, Ltd. The fair value on the acquired domain name was estimated to be $21,601 and is amortized over the remaining useful life of 5 years. On June 2, 2016, the Company acquired Brigadier Security Systems. The fair value on the acquired domain name was estimated to be $15,312 and is amortized over the remaining useful life of 5 years.

	June 30, 2016			June 30, 2015
Domain Name	$	36,913			-
Less: accumulated amortization		(4,193	)		-
Total brand name, net	$	32,720			-

RECIPES

On August 11, 2105, the Company acquired Gourmet Foods, Ltd. The fair value on the recipes was estimated to be $21,601 and is amortized over the remaining useful life of 5 years.

	June 30,			June 30,
	2016			2015
Recipes	$	21,601		$	-
Less: accumulated amortization		(3,937	)		-
Total Recipes, net	$	17,664			-

NON-COMPETE AGREEMENT

On June 2, 2016, the Company acquired Brigadier Security Systems. The fair value on the acquired non-compete agreement was estimated to be $104,122 and is amortized over the remaining useful life of 5 years.

	June 30, 2016			June 30, 2015
Non-compete agreement	$	84,982			-
Less: accumulated amortization		(1,421	)		-
Total non-compete agreement, net	$	83,561			-

AMORTIZATION EXPENSE

Estimated amortization expenses of intangible assets for the next five twelve months periods ended June 30, are as follows:

Years Ending June 30,	Expense
2017	$	118,937
2018	$	118,937
2019	$	118,937
2020	$	118,937
2021	$	109,385