Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets (Tables)

v3.20.4
Goodwill and Intangible Assets (Tables)
9 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets  
Schedule of changes to goodwill

Changes to goodwill during the nine months ended December 31, 2020 were as follows:

 

 

 

 

 

 

    

Total

Balance—March 31, 2020

 

$

11,085,984

Impairment of goodwill in period

 

 

6,803,000

Balance—December 31, 2020

 

$

4,282,984

 

Schedule of intangible assets

Intangible assets consist of the following at December 31, 2020 and March 31, 2020:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Patents & Exclusive

    

 

 

    

 

 

    

 

 

    

 

 

    

    

 

 

 

License

 

 

 

 

Customer

 

Non-Compete

 

Assembled

 

 

 

 

    

Agreement

    

Trademark

    

Relationships

    

Agreement

    

Workforce

 

Total

Useful Life

    

9.74 years

    

Indefinite

    

10 years

    

2 years

    

1 year

    

  

 

Gross carrying amount

 

$

1,306,031

 

$

2,505,907

 

$

1,431,680

 

$

61,366

 

$

275,720

 

$

5,580,704

Impairment

 

 

(316,388)

 

 

(1,905,907)

 

 

(857,298)

 

 

 —

 

 

 —

 

 

(3,079,593)

Accumulated amortization

 

 

(589,512)

 

 

 —

 

 

(574,382)

 

 

(61,366)

 

 

(275,720)

 

 

(1,500,980)

Balance—December 31, 2020

 

$

400,131

 

$

600,000

 

$

 —

 

$

 —

 

$

 —

 

$

1,000,131

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Patents & Exclusive

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

License

 

 

 

 

Customer

 

Non-Compete

 

Assembled

 

 

 

 

 

Agreement

 

Trademark

 

Relationships

 

Agreement

 

Workforce

 

Total

Useful Life

    

9.74 years

    

Indefinite

    

10 years

    

2 years

    

1 year

    

 

Gross carrying amount

 

$

1,306,031

 

$

2,505,907

 

$

1,431,680

 

$

61,366

 

$

275,720

 

$

5,580,704

Impairment

 

 

(307,388)

 

 

(1,605,907)

 

 

(787,245)

 

 

 —

 

 

 —

 

 

(2,700,540)

Accumulated amortization

 

 

(528,681)

 

 

 —

 

 

(564,473)

 

 

(61,366)

 

 

(275,720)

 

 

(1,430,240)

Balance—March 31, 2020

 

$

469,962

 

$

900,000

 

$

79,962

 

$

 —

 

$

 —

 

$

1,449,924