| Intangible Assets |
Note 6. Intangible Assets Intangible assets as of March 31, 2025: | | Estimated Life | | Cost | | | Accumulated Amortization | | | Net Book Value | | Customer relationships | | 4 years | | $ | 1,834,692 | | | $ | 1,834,692 | | | $ | - | | Trade name | | 5 years | | | 383,792 | | | | 201,492 | | | | 182,300 | | | | | | | | | | | | | | | | | Online sales channels | | 2 years | | | 1,800,000 | | | | 1,800,000 | | | | - | | Vender relationships | | 5 years | | | 6,000,000 | | | | 6,000,000 | | | | - | | | | | | | | | | | | | | | | | | | | | $ | 10,018,484 | | | $ | 9,836,184 | | | $ | 182,300 | |
For the three months ended March 31, 2025 and 2024, the Company amortized approximately $19,191 and 2,195,079, respectively. For the nine months ended March 31, 2025 and 2024, the Company amortized approximately $57,571 and $3,512,794, respectively. Intangible assets as of June 30, 2024: | | Estimated Life | | Cost | | | Accumulated Amortization | | | Net Book Value | | Customer relationships | | 4 years | | $ | 1,834,692 | | | $ | 1,834,692 | | | $ | - | | Trade name | | 5 years | | | 383,792 | | | | 143,921 | | | | 239,871 | | | | | | | | | | | | | | | | | Online sales channels | | 2 years | | | 1,800,000 | | | | 1,800,000 | | | | - | | Vender relationships | | 5 years | | | 6,000,000 | | | | 6,000,000 | | | | - | | | | | | | | | | | | | | | | | | | | | $ | 10,018,484 | | | $ | 9,778,613 | | | $ | 239,871 | |
Future amortization of intangible assets on March 31, 2025 are as follows: | | | June 30, 2025 | | $ | 19,189 | | June 30, 2026 | | | 76,758 | | June 30, 2027 | | | 76,758 | | June 30, 2028 | | | 9,595 | | | | $ | 182,300 | |
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Note 6. Intangible Assets Intangible assets as of June 30, 2024: | | Estimated Life | | Cost | | | Accumulated Amortization | | | Net Book Value | | Customer relationships | | 4 years | | $ | 1,834,692 | | | $ | 1,834,692 | | | $ | - | | Trade name | | 5 years | | | 383,792 | | | | 143,921 | | | | 239,871 | | | | | | | | | | | | | | | | | Online sales channels | | 2 years | | | 1,800,000 | | | | 1,800,000 | | | | - | | Vender relationships | | 5 years | | | 6,000,000 | | | | 6,000,000 | | | | - | | | | | | | | | | | | | | | | | | | | | $ | 10,018,484 | | | $ | 9,778,613 | | | $ | 239,871 | |
For the years ended June 30, 2024 and 2023, the Company amortized approximately $2,410,400, and $2,568,500, respectively. For the year ended June 30, 2024 the Company impaired approximately $3,300,000 related to the vendor relationships of Cygnet and impaired approximately $974,700 related to the customer relationships of LuckyTail. Intangible assets as of June 30, 2023: | | Estimated Life | | Cost | | | Accumulated Amortization | | | Net Book Value | | Customer relationships | | 4 years | | $ | 1,834,692 | | | $ | 401,339 | | | $ | 1,433,353 | | Trade name | | 5 years | | | 383,792 | | | | 67,163 | | | | 316,629 | | Online sales channels | | 2 years | | | 1,800,000 | | | | 1,125,000 | | | | 675,000 | | Vender relationships | | 5 years | | | 6,000,000 | | | | 1,500,000 | | | | 4,500,000 | | | | | | | | | | | | | | | | | | | | | $ | 10,018,484 | | | $ | 4,237,814 | | | $ | 6,924,982 | |
The following intangible assets were added during the year ended June 30, 2023, from the acquisitions noted below: LuckyTail: Customer relationships | | $ | 1,834,692 | | Trade name | | | 383,792 | | Intangible Assets from Purchase | | $ | 2,218,484 | |
Future amortization of intangible assets at June 30, 2024 are as follows: June 30, 2025 | | $ | 76,758 | | June 30, 2026 | | | 76,758 | | June 30, 2027 | | | 76,758 | | June 30, 2028 | | | 9,596 | | | | $ | 239,871 | |
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