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Goodwill and Intangible Assets

9 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Note 7 — Goodwill and Intangible Assets

Goodwill

The Company currently has one reportable segment. The following table presents the changes in the carrying amount of goodwill in the Company’s reportable segment for the nine months ended December 31, 2018 (in thousands):

	Goodwill
Balance as of March 31, 2018	$	5,377
Acquisitions		-
Finalization of purchase price allocation of Slacker (see Note 4*)		4,295
Discontinued Operations		-
Balance as of December 31, 2018	$	9,672

(* Increase in goodwill due to the net change in fair value of equity consideration transferred and final fair value of assets acquired and liabilities assumed)

Indefinite-Lived Intangible Assets

The following table presents the changes in the carrying amount of indefinite-lived intangible assets in the Company’s reportable segment for the nine months ended December 31, 2018 (in thousands):

	Tradenames
Balance as of March 31, 2018	$	-
Acquisitions		-
Finalization of purchase price allocation of Slacker (see Note 4*)		4,637
Impairment Losses		-
Balance as of December 31, 2018	$	4,637

(* Tradenames determined to be indefinite-lived intangible asset in final purchase accounting. Preliminarily booked as a definite lived intangible asset.)

Finite-Lived Intangible Assets

The Company’s finite-lived intangible assets were as follows as of December 31, 2018 (in thousands):

	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Software	$	19,280	$	3,855	$	15,425
Trademark/Tradename		-		-		-
Intellectual Property (Patents)		5,366		358		5,008
Customer Relationships		6,570		2,932		3,638
Domain Names		29		6		23
Total	$	31,245	$	7,151	$	24,094

The Company’s finite-lived intangible assets were as follows as of March 31, 2018 (in thousands):

	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Software	$	19,384	$	968	$	18,416
Trademark/Tradename		11,436		572		10,864
Intellectual Property (Patents)		8,454		141		8,313
Customer Relationships		6,618		739		5,879
Domain Names		29		2		27
Total	$	45,921	$	2,422	$	43,499

The Company’s amortization expense on its finite-lived intangible assets was ($0.1) million and $0 for the three months ended December 31, 2018 and 2017, respectively, and was $4.7 million and $0 for the nine months ended December 31, 2018 and 2017, respectively. Amortization expense and Accumulated Amortization for the three months ended December 31, 2018 included an ($2.5) million adjustment for the finalization of the purchase price allocation fair values of the acquisition of Slacker (see Note 4).

The Company expects to record amortization of intangible assets for fiscal years ending March 31, 2019 and future fiscal years as follows (in thousands):

For Years Ending March 31,
2019 (remaining three months)	$	1,788
2020		5,683
2021		4,744
2022		4,744
2023		3,647
Thereafter		3,488
	$	24,094