Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.20.1
Intangible Assets (Tables)
9 Months Ended
Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

Intangible assets consisted of the following:

 

    As of     As of  
    March 31, 2020     June 30, 2019  
             
Product Licenses - Cost   $ 47,244,997     $ 47,244,997  
Effect of Translation Adjustment     (15,833,112 )     (15,343,727 )
Accumulated Amortization     (25,531,126 )     (24,568,320 )
Net Balance   $ 5,880,759     $ 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:      
March 31, 2021   $ 1,748,286  
March 31, 2022     1,748,286  
March 31, 2023     1,748,286  
March 31, 2024     635,901  
    $ 5,880,759