Goodwill and Intangible Assets

6 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

There were no changes in the net carrying value of goodwill during the six months ended December 31, 2020.

Identifiable intangible assets were comprised of:

	Useful Lives (Years)		December 31, 2020			June 30, 2020
Customer relationships		15	$	3,590,000		$	3,590,000
Trade secrets		8		3,272,000			3,272,000
Trademarks		8		3,814,000			3,814,000
Total intangible assets				10,676,000			10,676,000
Less accumulated amortization				(4,530,577	)		(3,968,036	)
Total intangible assets, net			$	6,145,423		$	6,707,964

Future amortization of identifiable intangibles is as follows:

Fiscal year ending:
June 30, 2021 (remaining six months)	$	562,542
June 30, 2022		1,125,083
June 30, 2023		1,125,083
June 30, 2024		1,125,083
June 30, 2025 and later		2,207,632
	$	6,145,423