Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS (Tables)

v2.4.0.6
INTANGIBLE ASSETS (Tables)
 12 Months Ended
Jun. 30, 2012
Schedule of Finite-Lived Intangible Assets [Table Text Block] Intangible assets consist of the following:

 

 

 

 

 

 

 

 

 

 

As of June 30,

 

 

 

 

 

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

 

 

 

Intellectual property

 

$

3,100,000

 

$

3,100,000

 

Patents

 

 

1,684,388

 

 

1,533,366

 

 

 

 

 

 

 

 

4,784,388

 

 

4,633,366

 

 

 

 

 

Accumulated amortization - intellectual property

 

 

(1,309,410

)

 

(1,153,710)

 

Accumulated amortization - patents

 

 

(613,038

)

 

(452,417)

 

 

 

 

 

 

 

 

(1,922,448

)

 

(1,606,127

)

 

 

 

 

Net

 

$

2,861,940

 

$

3,027,239

 

 

 

 

 

Schedule of Expected Amortization Expense [Table Text Block] The estimated annual amortization expense for intangible assets for the next five years and thereafter is as follows:

 

 

 

 

 

 

Year ending June 30,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

 

$

324,000

 

2014

 

 

 

324,000

 

2015

 

 

 

324,000

 

2016

 

 

 

309,000

 

2017

 

 

 

295,000

 

Thereafter

 

 

 

1,286,000

 

 

 

 

Total

 

$

2,862,000