Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

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Intangible Assets (Tables)
 6 Months Ended
Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

Intangible assets consisted of the following:

 

    Product Licenses     Customer Lists     Technology     Total  
Intangible Assets - June 30, 2014 - Cost   $ 48,632,368     $ 6,052,377     $ 242,702     $ 54,927,447  
Additions     -       -       -       -  
Effect of Translation Adjustment     (2,208,657 )     -       -       (2,208,657 )
Accumulated Amortization     (20,479,959 )     (5,965,465 )     (242,702 )     (26,688,126 )
Net Balance - December 31, 2014   $ 25,943,752     $ 86,912     $ -     $ 26,030,664  

Estimated Amortization Expense of Intangible Assets over Next Five Years

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

 

Year ended:      
December 31, 2015   $ 3,349,208  
December 31, 2016     3,130,881  
December 31, 2017     3,093,637  
December 31, 2018     3,093,637  
December 31, 2019     3,026,353  
Thereafter     10,336,950  
    $ 26,030,664