Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.19.3.a.u2
Intangible Assets (Tables)
6 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

Intangible assets consisted of the following:

 

    As of     As of  
    December 31, 2019     June 30, 2019  
             
Product Licenses - Cost   $ 47,244,997     $ 47,244,997  
Effect of Translation Adjustment     (14,099,205 )     (15,343,727 )
Accumulated Amortization     (26,352,946 )     (24,568,320 )
Net Balance   $ 6,792,846     $ 7,332,950  

Summary of Estimated Amortization Expense of Intangible Assets

Estimated amortization expense of intangible assets over the next five years is as follows:

 

Year ended:        
December 31, 2020     $ 1,878,349  
December 31, 2021       1,878,349  
December 31, 2022       1,878,349  
December 31, 2023       1,157,799  
      $ 6,792,846