Intangible Assets

9 Months Ended

Mar. 31, 2024

Intangible Assets

Intangible Assets

Note 5. Intangible Assets

Intangible assets as of March 31, 2024:

	Estimated Life	Cost		Accumulated Amortization		Net Book Value
Customer relationships, amortized over four years	4 years	$	6,914,897	$	2,597,503	$	4,317,394
Trade name, amortized over five years	5 years		2,111,041		628,512		1,482,529
Online sales channels	2 years		1,800,000		1,800,000		-
Vender relationships	5 years		6,000,000		2,400,000		3,600,000
Tytan Tiles Patents	15 years		70,000		-		70,000
		$	16,825,938	$	7,426,015	$	9,469,923

For the three months ended March 31, 2024 and 2023, the Company amortized approximately $1,062,734 and $1,124,500, respectively.

For the nine months ended March 31, 2024 and 2023, the Company amortized approximately $3,188,201 and $2,709,167, respectively.

The following intangible asset was added during the nine months ended March 31, 2024:

Patent $ 70,000

Intangible assets as of June 30, 2023:

	Estimated Life	Cost		Accumulated Amortization		Net Book Value
Customer relationships, amortized over four years	4 years	$	6,914,897	$	1,300,958	$	5,613,939
Trade name, amortized over five years	5 years		2,111,041		311,856		1,799,185
Online sales channels	2 years		1,800,000		1,125,000		675,000
Vender relationships	5 years		6,000,000		1,500,000		4,500,000
		$	16,825,938	$	4,237,814	$	12,588,124

The following intangible assets were added during the year ended June 30, 2023, from the acquisitions noted below:

LuckyTail

Customer relationships	$	1,834,692
Trade name		383,792
Intangible Assets from Purchase	$	2,218,484
E-Core:
Customer relationships	$	5,080,205
Trade name		1,727,249
Intangible Assets from Purchase	$	6,807,454

Future amortization of intangible assets at March 31, 2024 are as follows:

June 30, 2024	$	838,900
June 30, 2025		3,355,599
June 30, 2026		3,355,599
June 30, 2027		1,754,640
June 30, 2028		115,018
June 30, 2029		4,667
Thereafter		45,500
	$	9,469,923