Quarterly report pursuant to Section 13 or 15(d)

TECHNOLOGY AND OTHER ASSETS

v3.19.3.a.u2
TECHNOLOGY AND OTHER ASSETS
9 Months Ended
Dec. 31, 2019
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 nine months ended December 31, 2019, and the year ended March 31, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

Value 

    

Amortization

    

Value at

    

Amortization

    

Value at

 

 

Amortization

 

Acquired

 

March 31, 2019

 

March 31, 2019

 

December 31, 2019

 

December 31, 2019

Intangible assets acquired

 

period (years)

 

$

 

$

 

$

 

$

 

$

Patents and exclusive License Agreement

 

9.74

 

1,306,031

 

134,090

 

911,440

 

100,566

 

810,874

Trademark

 

Indefinite

 

2,505,907

 

 —

 

2,505,907

 

 —

 

2,505,907

Customer relationships

 

10

 

1,431,680

 

143,168

 

1,010,375

 

107,377

 

902,998

Non compete agreement

 

 2

 

61,366

 

1,739

 

 —

 

 —

 

 —

Assembled workforce

 

 1

 

275,720

 

 —

 

 —

 

 —

 

 —

 

 

 

 

5,580,704

 

278,997

 

4,427,722

 

207,943

 

4,219,779

 

Amortization expense for the technology and other assets was $207,943 and $209,682 for the nine months ended December 31, 2019 and 2018, respectively. Amortization expensed for the technology and other assets was $69,314 and $69,314 for the three months ended December 31, 2019 and 2018, respectively.