8. Goodwill and Other Intangible Assets

9 Months Ended

Mar. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in connection with the Company's acquisitions. Goodwill amounted to $705,300 and $589,900 as of March 31, 2015 and June 30, 2014, respectively, all of which is deductible for tax purposes.

The components of other intangible assets are as follows:

	Useful		Accumulated
	Lives	Cost	Amortization	Net
At March 31, 2015:
Technology, trademarks	5/10 yrs.	$1,226,800 $	590,400	$ 636,400
Trade names	6 yrs.	140,000	25,300	114,700
Websites	5 yrs.	210,000	45,500	164,500
Customer relationships	9/10 yrs.	357,000	231,600	125,400
Sublicense agreements	10 yrs.	294,000	99,200	194,800
Non-compete agreements	5 yrs.	384,000	168,600	215,400
IPR&D	3 yrs.	110,000	39,700	70,300
Other intangible assets	5 yrs.	161,900	146,200	15,700
		$2,883,700	$1,346,500	$1,537,200

	Useful		Accumulated
	Lives	Cost	Amortization	Net
At June 30, 2014:
Technology, trademarks	5/10 yrs.	$1,226,800	$ 489,100	$ 737,700
Trade names	6 yrs.	140,000	7,800	132,200
Websites	5 yrs.	210,000	14,000	196,000
Customer relationships	9/10 yrs.	357,000	215,800	141,200
Sublicense agreements	10 yrs.	294,000	77,200	216,800
Non-compete agreements	5 yrs.	384,000	126,300	257,700
IPR&D	3 yrs.	110,000	12,200	97,800
Other intangible assets	5 yrs.	157,400	140,900	16,500
		$2,879,200	$1,083,300	$1,795,900

Total amortization expense was $86,900 and $47,500 for the three months ended March 31, 2015 and 2014, respectively and $263,200 and $103,400 for the nine months ended March 31, 2015 and 2014, respectively. As of March 31, 2015, estimated future amortization expense related to intangible assets is $87,500 for the remainder of the fiscal year ending June 30, 2015, $352,400 for fiscal 2016, $337,100 for fiscal 2017, $323,300 for fiscal 2018, $244,800 for fiscal 2019, and $192,100 thereafter.