Patents

3 Months Ended

Sep. 30, 2017

Patents

Patents

6. 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 totaled $715,177 and $719,136 at September 30, 2017 and June 30, 2017, respectively. Amortization expense for the three months ended September 30, 2017 and 2016 was $30,000 and $26,000, respectively.

The following is a schedule of estimated future patent amortization expenses by fiscal year as of September 30, 2017:

2018	$	88,969
2019		108,501
2020		85,072
2021		78,901
2022		51,367
Thereafter		302,367
	$	715,177