NOTE 7 - OTHER INTANGIBLE ASSETS (Tables)
|
12 Months Ended |
Jun. 30, 2017 |
Goodwill and Intangible Assets Disclosure [Abstract] |
|
Other Intagible Assets - Net |
Other
intangible assets, net of accumulated amortization, at June 30, 2017 and 2016 are comprised of:
| |
As
of June 30, |
| |
2017 | |
2016 |
Capitalized
software development costs | |
$ | 7,004,847 | | |
$ | 7,004,847 | |
Patents
and copyrights | |
| 4,726,977 | | |
| 4,571,821 | |
Non-competition
agreements | |
| 4,100,000 | | |
| 4,100,000 | |
Customer
relationships | |
| 3,800,000 | | |
| 3,800,000 | |
| |
| 19,631,824 | | |
| 19,476,668 | |
Less:
Accumulated amortization | |
| 12,987,320 | | |
| 11,757,310 | |
| |
$ | 6,644,504 | | |
$ | 7,719,358 | |
|
Schedule Of Other Intangle Assets |
Information
related to the above intangible assets for the years ended June 30, 2017, 2016 and 2015 is as follows:
| |
As
of June 30, |
| |
2017 | |
2016 | |
2015 |
Balance
– Beginning of Year | |
$ | 7,719,358 | | |
$ | 8,950,160 | | |
$ | 10,508,843 | |
Amounts
capitalized | |
| 155,156 | | |
| 113,072 | | |
| 139,534 | |
Software
or patents written off | |
| — | | |
| (88,796 | ) | |
| (413,589 | ) |
Amortization | |
| (1,230,010 | ) | |
| (1,255,078 | ) | |
| (1,284,628 | ) |
Balance
– End of Year | |
$ | 6,644,504 | | |
$ | 7,719,358 | | |
$ | 8,950,160 | |
|
Amortization of Other Intangible Assets |
The
estimated amortization of other intangible assets for the five years ending June 30, 2022 and thereafter is as follows:
For
the Years Ending June 30, | |
Total | |
Patents
and Copyrights | |
Capitalized
Software Development Costs | |
Non-
competition | |
Customer
Relationships |
| 2018 | | |
$ | 1,150,028 | | |
$ | 200,981 | | |
$ | 173,333 | | |
$ | 585,714 | | |
$ | 190,000 | |
| 2019 | | |
| 982,782 | | |
| 207,068 | | |
| — | | |
| 585,714 | | |
| 190,000 | |
| 2020 | | |
| 785,570 | | |
| 205,093 | | |
| — | | |
| 390,477 | | |
| 190,000 | |
| 2021 | | |
| 395,600 | | |
| 205,600 | | |
| — | | |
| — | | |
| 190,000 | |
| 2022 | | |
| 386,144 | | |
| 196,144 | | |
| — | | |
| — | | |
| 190,000 | |
| Thereafter | | |
| 2,944,380 | | |
| 917,713 | | |
| — | | |
| — | | |
| 2,026,667 | |
| | | |
$ | 6,644,504 | | |
$ | 1,932,599 | | |
$ | 173,333 | | |
$ | 1,561,905 | | |
$ | 2,976,667 | |
|