(5) Intangible Assets

12 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

(5) Intangible Assets

Identifiable intangible assets, other than goodwill, consisted of the following as of and for the years ended June 30, 2019 and 2018:

	Trade name - indefinite life		Trade name			Non-compete covenant			Customer relationships			Total
Gross carrying amount
June 30, 2017	$	464,000	$	389,800		$	504,400		$	2,030,800		$	3,389,000
Additions		620,000		-			83,000			4,313,000			5,016,000
Disposals		-		(119,200	)		(114,000	)		(100,400	)		(333,600	)
June 30, 2018		1,084,000		270,600			473,400			6,243,400			8,071,400
Accumulated Amortization
June 30, 2017	$	-	$	266,149		$	167,150		$	201,583		$	634,882
Additions		-		43,241			83,450			511,669			638,360
Disposals		-		(119,200	)		(114,000	)		(100,400	)		(333,600	)
June 30, 2018		-		190,190			136,600			612,852			939,642
Net book value at June 30, 2018	$	1,084,000	$	80,410		$	336,800		$	5,630,548		$	7,131,758

	Trade name - indefinite life		Trade name		Non-compete covenant		Customer relationships		Total
Gross carrying amount
June 30, 2018	$	1,084,000	$	270,600	$	473,400	$	6,243,400	$	8,071,400
Additions		-		-		-		-		-
Disposals		-		-		-		-		-
June 30, 2019		1,084,000		270,600		473,400		6,243,400	$	8,071,400
Accumulated Amortization
June 30, 2018	$	-	$	190,190	$	136,600	$	612,852	$	939,642
Additions		-		17,290		87,600		619,494		724,384
Disposals		-		-		-		-		-
June 30, 2019		-		207,480		224,200		1,232,346		1,664,026
Net book value at June 30, 2019	$	1,084,000	$	63,120	$	249,200	$	5,011,054	$	6,407,374

During the year ended June 30, 2018, as a result of discontinuing the use of one of its previously acquired dealers, the Company wrote-off the related trade name, non-compete covenants, and customer relationships of the dealer.

Amortization expense associated with the intangible assets was $724,384 and $638,360 for the fiscal years ended June 30, 2019 and 2018, respectively. Estimated future amortization expense for the identifiable intangible assets is expected to be as follows for the years ending June 30:

2020	$	724,383
2021		724,383
2022		706,633
2023		624,700
2024		620,550
Thereafter		1,922,725
Total	$	5,323,374