Goodwill and Intangible Assets

6 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets

6. Goodwill and Intangible Assets

6. Goodwill and Intangible Assets

There were no changes in the net carrying value of goodwill during the six months ended December 31, 2021.

Identifiable intangible assets were comprised of:

	Useful Lives (Years)	December 31, 2021			June 30, 2021
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			(5,655,661	)		(5,093,119	)
Total intangible assets, net		$	5,020,339		$	5,582,881

Future amortization of identifiable intangibles is as follows:

Fiscal year ending:
June 30, 2022 (remaining six months)		562,541
June 30, 2023		1,125,083
June 30, 2024		1,125,083
June 30, 2025		658,398
After June 30, 2025		1,549,234
	$	5,020,339