Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

v3.23.3
INTANGIBLE ASSETS
 3 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 11 - INTANGIBLE ASSETS

 

Intangible assets consisted of the following:

 

    As of
September 30, 2023		     As of
June 30, 2023		  
             
Product Licenses - Cost   $ 39,395,533     $ 47,244,997  
Effect of Translation Adjustment     (24,867,352 )     (24,756,959 )
Accumulated Amortization     (14,528,181 )     (22,360,107 )
Net Balance   $ -     $ 127,931  

 

Product Licenses

 

Product licenses include internally developed software cost. Product licenses are amortized on a straight-line basis over their respective lives. Amortization expense for the three months ended September 30, 2023 and 2022, was $126,041 and $322,820, respectively.