v2.4.0.8
GOODWILL AND INTANGIBLE ASSETS (Tables)
12 Months Ended
Mar. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill [Table Text Block]
The changes in the carrying amount of goodwill for the years ended March 31, 2013 and 2012 were as follows:
 
 
 
Amount
 
Balance as of March 31, 2011
 
$
1,126,010
 
 
 
 
 
 
Payments under McLain and Kyne agreement
 
 
117,048
 
Balance as of March 31, 2012
 
$
1,243,058
 
 
 
 
 
 
Write-down of goodwill related to wine brands
 
 
(898,572)
 
Payments under McLain and Kyne agreement
 
 
145,800
 
Balance as of March 31, 2013
 
$
490,286
 
Schedule of Finite-Lived Intangible Assets [Table Text Block]
Intangible assets consist of the following:  
 
 
 
March 31,
 
 
 
2013
 
2012
 
Definite life brands
 
$
170,000
 
$
170,000
 
Trademarks
 
 
535,947
 
 
557,947
 
Rights
 
 
8,271,555
 
 
8,271,555
 
Distributor relationships
 
 
 
 
664,000
 
Product development
 
 
96,959
 
 
43,395
 
Patents
 
 
994,000
 
 
994,000
 
Other
 
 
28,480
 
 
28,480
 
 
 
 
 
 
 
 
 
 
 
 
10,096,941
 
 
10,729,377
 
Less: accumulated amortization
 
 
5,404,000
 
 
4,906,061
 
 
 
 
 
 
 
 
 
Net
 
 
4,692,941
 
 
5,823,316
 
Other identifiable intangible assets — indefinite lived*
 
 
4,112,972
 
 
4,478,972
 
 
 
$
8,805,913
 
$
10,302,288
 
Accumulated Amortization [Table Text Block]
Accumulated amortization consists of the following: 
 
 
 
March 31,
 
 
 
2013
 
2012
 
Definite life brands
 
$
169,999
 
$
160,552
 
Trademarks
 
 
230,379
 
 
197,197
 
Rights
 
 
4,409,221
 
 
3,857,271
 
Distributor relationships
 
 
 
 
166,978
 
Product development
 
 
16,280
 
 
12,210
 
Patents
 
 
578,121
 
 
511,853
 
Other
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
Accumulated amortization
 
$
5,404,000
 
$
4,906,061
 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
Estimated aggregate amortization expense for each of the next five fiscal years is as follows:
 
Years ending March 31,
 
Amount
 
2014
 
$
642,697
 
2015
 
 
636,236
 
2016
 
 
635,433
 
2017
 
 
635,433
 
2018
 
 
635,433
 
 
 
 
 
 
Total
 
$
3,185,232