Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

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Intangible Assets (Tables)
6 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

Intangible assets consisted of the following:

 

    As of December 31,     As of June 30,  
    2017     2017  
             
Product Licenses - Cost   $ 47,244,997     $ 47,244,997  
Effect of Translation Adjustment     (4,850,984 )     (3,134,488 )
Accumulated Amortization     (27,583,408 )     (27,067,358 )
Net Balance   $ 14,810,605     $ 17,043,151  

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, 2018   $ 2,630,334  
December 31, 2019     2,630,334  
December 31, 2020     2,630,334  
December 31, 2021     2,630,334  
December 31, 2022     2,630,334  
Thereafter     1,658,935  
    $ 14,810,605