Gain On Sale Of Intellectual Property, Net

12 Months Ended

Jun. 30, 2013

Gain On Sale Of Intellectual Property [Abstract]

Gain On Sale Of Intellectual Property, Net

15. Gain on Sale of Intellectual Property, net

     In the fourth quarter of our fiscal year 2013, we entered into an agreement to sell certain non-strategic patents and patent applications (collectively known as "intellectual property") that Concurrent originally acquired in the purchase of Everstream, Inc. ("Everstream"). We have not and do not expect to use the technology associated with this intellectual property as part of our ongoing or planned operations. This intellectual property was originally valued at $0 upon our acquisition of Everstream. On June 28, 2013 we closed on this agreement with the purchaser and the purchaser transferred $2,750,000 of cash to us as payment in full for this intellectual property. As part of the execution of this agreement, we incurred approximately $369,000 of commissions and legal fees that we have netted against the gross proceeds, as these expenses were incurred as a result of the sale, and would not have been incurred otherwise. Our Bank provided its consent to sell this intellectual property.