Goodwill and Intangible Assets

9 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets [Abstract]

4. Goodwill and Intangible Assets

Goodwill

The following summarizes the changes in the Company’s goodwill:

	Nine Months Ended December 31,
	2017		2016
Balance at beginning of period	$	2,551,000	$	2,053,000
Goodwill acquired		-		498,000
Translation adjustment		-		-
Impairment		-		-

Balance at end of period	$	2,551,000	$	2,551,000

Intangible Assets

The following is a summary of acquired intangible assets subject to amortization:

		December 31, 2017				March 31, 2017
	Weighted Average Amortization Period	Gross Carrying Value		Accumulated Amortization		Gross Carrying Value		Accumulated Amortization
Intangible assets subject to amortization
Trademarks	9 years	$	890,000	$	278,000	$	705,000	$	191,000
Customer relationships	13 years		5,900,000		2,808,000		5,900,000		2,421,000
Developed technology	3 years		309,000		43,000		-		-
Total		$	7,099,000	$	3,129,000	$	6,605,000	$	2,612,000

Amortization expense for acquired intangible assets is as follows:

	Three Months Ended December 31,				Nine Months Ended December 31,
	2017		2016		2017		2016

Amortization expense	$	192,000	$	166,000	$	517,000	$	456,000

The estimated future amortization expense for acquired intangible assets is as follows:

Year Ending March 31,
2018 - remaining three months	$	194,000
2019		776,000
2020		714,000
2021		614,000
2022		580,000
Thereafter		1,092,000
Total	$	3,970,000

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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