Patents

9 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Patents

7. Patents

The costs of acquiring or processing patents are capitalized at cost. These amounts are being amortized using the straight-line method over the estimated useful lives of the underlying assets, which is approximately 17 years. Patents, net of accumulated amortization, totaled $786,097 and $779,100 at March 31, 2020 and June 30, 2019, respectively. Amortization expense for the nine months ended March 31, 2020 and 2019 was $97,697 and $106,000, respectively. The following is a schedule of estimated future patent amortization expenses by fiscal year as of March 31, 2020:

2020	$	33,176
2021		126,513
2022		84,494
2023		83,363
2024		75,452
Thereafter		383,099
	$	786,097