Annual report pursuant to Section 13 and 15(d)

TECHNOLOGY AND OTHER ASSETS

v3.20.2
TECHNOLOGY AND OTHER ASSETS
12 Months Ended
Mar. 31, 2020
TECHNOLOGY AND OTHER ASSETS  
TECHNOLOGY AND OTHER ASSETS

4.TECHNOLOGY AND OTHER ASSETS

The schedule below reflects the intangible assets acquired in the IMT acquisition and the assets amortization period and expense for the year ended March 31, 2020:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Value

 

Expense

 

Value at

 

 

 

Expenses

 

Value at

 

    

Amortization

    

acquired

    

March 31, 2019

    

March 31, 2019

    

 

    

March 31, 2020

    

March 31, 2020

Intangible assets acquired

 

period (years)

 

$

 

$

 

$

 

Impairment $

 

$

 

$

Patents and exclusive License Agreement

 

9.74

 

1,306,031

 

134,090

 

911,440

 

307,388

 

134,090

 

469,962

Trademark

 

Indefinite

 

2,505,907

 

 —

 

2,505,907

 

1,605,907

 

 

 

900,000

Customer relationships

 

10

 

1,431,680

 

143,168

 

1,010,375

 

787,245

 

143,168

 

79,962

Non-compete agreement

 

 2

 

61,366

 

1,739

 

 —

 

 —

 

 —

 

 —

Assembled workforce

 

 1

 

275,720

 

 —

 

 —

 

 —

 

 —

 

 —

 

 

 

 

5,580,704

 

278,997

 

4,427,722

 

2,700,540

 

277,258

 

1,449,924

 

The cumulative amortization expense for the technology and other assets was $1,430,240 and $1,152,982 at March 31, 2020 and March 31, 2019, respectively and as a result of a technology valuation at March 31, 2020, the technology assets were written down by an additional $2,700,540.