Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

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Intangible Assets (Tables)
 6 Months Ended
Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

Intangible assets consisted of the following:

 

    As of     As of  
    December 31, 2015     June 30, 2015  
             
Product Licenses - Cost   $ 48,632,368     $ 48,632,368  
Additions     -       -  
Effect of Translation Adjustment     (3,295,489 )     (2,325,008 )
Accumulated Amortization     (24,459,168 )     (23,491,893 )
Net Balance   $ 20,877,711     $ 22,815,467  
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, 2016   $ 2,738,817  
December 31, 2017     2,738,817  
December 31, 2018     2,738,817  
December 31, 2019     2,738,817  
December 31, 2020     2,738,817  
Thereafter     7,183,626  
    $ 20,877,711