v2.4.0.8
GOODWILL AND INTANGIBLE ASSETS (Tables)
 3 Months Ended
Jun. 30, 2013
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill [Table Text Block]
The changes in the carrying amount of goodwill for the three months ended June 30, 2013 were as follows:
   
 
 
Amount
 
Balance as of March 31, 2013
 
$
490,286
 
 
 
 
 
 
Payments under McLain and Kyne agreement
 
 
5,940
 
 
 
 
 
 
Balance as of June 30, 2013
 
$
496,226
 
Schedule of Finite-Lived Intangible Assets [Table Text Block]
Intangible assets consist of the following:
 
 
 
June 30,
2013
 
March 31,
2013
 
Definite life brands
 
$
170,000
 
$
170,000
 
Trademarks
 
 
535,947
 
 
535,947
 
Rights
 
 
8,271,555
 
 
8,271,555
 
Product development
 
 
96,959
 
 
96,959
 
Patents
 
 
994,000
 
 
994,000
 
Other
 
 
55,461
 
 
28,480
 
 
 
 
 
 
 
 
 
 
 
 
10,123,922
 
 
10,096,941
 
Less: accumulated amortization
 
 
5,567,709
 
 
5,404,000
 
 
 
 
 
 
 
 
 
Net
 
 
4,556,213
 
 
4,692,941
 
Other identifiable intangible assets — indefinite lived*
 
 
4,112,972
 
 
4,112,972
 
 
 
 
 
 
 
 
 
 
 
$
8,669,185
 
$
8,805,913
 
 
* Other identifiable intangible assets — indefinite lived consists of product formulations.
Accumulated Amortization [Table Text Block]
Accumulated amortization consists of the following:
 
 
 
June 30,
2013
 
March 31,
2012
 
Definite life brands
 
$
169,999
 
$
169,999
 
Trademarks
 
 
238,424
 
 
230,379
 
Rights
 
 
4,547,209
 
 
4,409,221
 
Product development
 
 
17,390
 
 
16,280
 
Patents
 
 
594,687
 
 
578,121
 
Other
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
Accumulated amortization
 
$
5,567,709
 
$
5,404,000