Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

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Intangible Assets (Tables)
 9 Months Ended
Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

Intangible assets consisted of the following:

 

    As of     As of  
    March 31, 2016     June 30, 2015  
             
Product Licenses - Cost   $ 48,632,368     $ 48,632,368  
Additions     -       -  
Effect of Translation Adjustment     (3,281,529 )     (2,325,008 )
Accumulated Amortization     (25,074,124 )     (23,491,893 )
Net Balance   $ 20,276,715     $ 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:      
March 31, 2017   $ 2,746,316  
March 31, 2018     2,746,316  
March 31, 2019     2,746,316  
March 31, 2020     2,746,316  
March 31, 2021     2,746,316  
Thereafter     6,545,135  
    $ 20,276,715