GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2022

NOTE 5 — GOODWILL AND INTANGIBLE ASSETS

The following table summarizes the Company’s intangible assets as of June 30, 2022 (in thousands):


	Amortization	Gross Asset		Accumulated		Net Book
	Period	Cost		Amortization		Value
Customer relations	11 years	$	970	$	257	$	713
Patents	20 years		70		10		60
Trademark	20 years		78		12		66
		$	1,118	$	279	$	839

The following table summarizes the Company’s intangible assets as of June 30, 2021 (in thousands):


	Amortization	Gross Asset		Accumulated		Net Book
	Period	Cost		Amortization		Value
Customer relations	11 years	$	970	$	169	$	801
Patents	20 years		70		7		63
Trademark	20 years		78		7		71
		$	1,118	$	183	$	935

Amortization expense was $96,000 and $95,000 for the years ended June 30, 2022 and 2021, respectively, and are included in general and administrative expense.

Goodwill related to the Caddy acquisition was $287,000 at June 30, 2022 and 2021.

Estimated amortization expense related to intangible assets subject to amortization at June 30, 2022 in each of the five fiscal years subsequent to June 30, 2022, and thereafter is as follows (amounts in thousands):


2023	$	96
2024		96
2025		96
2026		96
2027		96
Thereafter		359
Total	$	839