v2.4.0.6
GOODWILL AND INTANGIBLE ASSETS (Tables)
 9 Months Ended
Dec. 31, 2012
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill [Table Text Block]

The change in the carrying amount of goodwill for the three months ended December 31, 2012 was as follows:

   

    Amount  
Balance as of March 31, 2012   $ 1,243,058  
         
Payments under McLain & Kyne agreement     123,660  
         
Balance as of December 31, 2012   $ 1,366,718
Schedule of Finite-Lived Intangible Assets [Table Text Block]

Intangible assets consist of the following:

 

    December 31,     March 31,  
    2012     2012  
Definite life brands   $ 170,000     $ 170,000  
Trademarks     557,947       557,947  
Rights     8,271,555       8,271,555  
Distributor relationships     664,000       664,000  
Product development     96,959       43,395  
Patents     994,000       994,000  
Other     28,480       28,480  
                 
      10,782,941       10,729,377  
Less: accumulated amortization     5,457,133       4,906,061  
                 
Net     5,325,808       5,823,316  
Other identifiable intangible assets — indefinite lived*     4,478,972       4,478,972  
                 
    $ 9,804,780     $ 10,302,288  

 

* Other identifiable intangible assets — indefinite lived consists of product formulations.
Accumulated Amortization [Table Text Block]

Accumulated amortization consists of the following:

 

    December 31,     March 31,  
    2012     2012  
Definite life brands   $ 169,054     $ 160,552  
Trademarks     222,152       197,197  
Rights     4,271,234       3,857,271  
Distributor relationships     217,876       166,978  
Product development     15,263       12,210  
Patents     561,554       511,853  
Other     -       -  
                 
Accumulated amortization   $ 5,457,133     $ 4,906,061