Annual report pursuant to section 13 and 15(d)

INTANGIBLE ASSETS (Tables)

v2.4.0.8
INTANGIBLE ASSETS (Tables)
 12 Months Ended
Jun. 30, 2013
INTANGIBLE ASSETS [Abstract]  
Schedule of Intangible Assets
As of June 30, 2013, there was an impairment of the Company's intangible assets in the amount of $58,460 which was recognized as impairment expense on the Company's statement of operations. The impairment loss resulted from the write-off an in-process patent cost for a country that the Company decided to no longer pursue.
 
 
June 30, 2013
 
June 30, 2012
 
 
Gross Amount
 
Accumulated Amortization
 
Gross Amount
 
Accumulated Amortization
 
 
 
 
 
 
Amortized Intangible Assets
 
 
 
 
 
 
 
 
 
License agreement
 
 
619,675
 
 
 
(525,282
)
 
 
648,123
 
 
 
(604,811
)
Patents
 
 
462,365
 
 
 
(173,900
)
 
 
373,357
 
 
 
-
 
Total
 
 
1,082,040
 
 
 
(699,182
)
 
 
1,021,480
 
 
 
(604,811
)
Schedule of Expected Amortization Expense
At June 30, 2013, total unamortized capitalized intangible assets costs are approximately $152,000, which are expected to be amortized and recognized over a weighted-average period of ten years.
 
Aggregate Amortization Expense
 
 
35,910
 
 
 
699,182
 
 
 
61,890
 
 
 
604,811