Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS (Tables)

v3.22.2.2
INTANGIBLE ASSETS (Tables)
12 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
SCHEDULE OF INTANGIBLE ASSETS

Intangible assets consisted of the following:

  

                 
    As of     As of  
    June 30, 2022     June 30, 2021  
             
Product Licenses - Cost   $ 47,244,997     $ 47,244,997  
Effect of Translation Adjustment     (19,914,206 )     (14,440,001 )
Accumulated Amortization     (25,743,121 )     (28,900,340 )
Net Balance   $ 1,587,670     $ 3,904,656  
SUMMARY OF ESTIMATED AMORTIZATION EXPENSE OF INTANGIBLE ASSETS

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

 

         
Period ended:   Amortization  
June 30, 2023   $ 1,416,353  
June 30, 2024     171,317  
Net Balance   $ 1,587,670