Annual report pursuant to Section 13 and 15(d)

Intangible Assets (Tables)

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Intangible Assets (Tables)
 12 Months Ended
Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

Intangible assets consisted of the following:

 

    As of June 30,     As of June 30,  
    2017     2016  
             
Product Licenses - Cost   $ 47,244,997     $ 47,244,997  
Effect of Translation Adjustment     (3,134,488 )     (3,323,518 )
Accumulated Amortization     (27,067,358 )     (24,247,446 )
Net Balance   $ 17,043,151     $ 19,674,033  

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:        
June 30, 2018     $ 2,778,585  
June 30, 2019       2,778,585  
June 30, 2020       2,778,585  
June 30, 2021       2,778,585  
June 30, 2022       2,778,585  
Thereafter       3,150,226  
      $ 17,043,151