Goodwill and Intangible Assets
|3 Months Ended|
Jun. 30, 2021
|Goodwill and Intangible Assets|
|Goodwill and Intangible Assets||
2. Goodwill and Intangible Assets
Goodwill represents the excess of the purchase price over the fair value of assets acquired and liabilities assumed in a business combination. The Company does not amortize its goodwill, but instead tests for impairment annually in the fourth quarter and more frequently whenever events or changes in circumstances indicate that fair value of the asset may be less than the carrying value of the asset.
Changes to goodwill during the three months ended June 30, 2021 were as follows:
Intangible assets consist of the following at June 30, 2021 and March 31, 2021:
Amortization expense for the three months ended June 30, 2021 and 2020 was $20,000 and $24,000, respectively. Amortization expense is classified as a component of general and administrative expenses in the accompanying condensed consolidated statements of operations.
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef