v2.4.1.9

GOODWILL AND INTANGIBLE ASSETS (Tables) | 12 Months Ended
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Mar. 31, 2015
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, 2015 and 2014 were as follows:
|  | Amount |
Balance as of March 31, 2013 |  | $ | 490,286 |
Payments under McLain and Kyne agreement |  |  | 5,940 |
Balance as of March 31, 2014 |  | $ | 496,226 |
Year ended March 31, 2015 |  |  | — |
Balance as of March 31, 2015 |  | $ | 496,226 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Intangible assets consist of the following:
|  | March 31, |
|  | 2015 |  | 2014 |
Definite life brands |  | $ | 170,000 |  | $ | 170,000 |
Trademarks |  |  | 631,693 |  |  | 535,947 |
Rights |  |  | 8,271,555 |  |  | 8,271,555 |
Product development |  |  | 161,321 |  |  | 96,959 |
Patents |  |  | 994,000 |  |  | 994,000 |
Other |  |  | 55,460 |  |  | 55,460 |
|  |  | 10,284,029 |  |  | 10,123,921 |
Less: accumulated amortization |  |  | 6,713,774 |  |  | 6,058,005 |
Net |  |  | 3,570,255 |  |  | 4,065,916 |
Other identifiable intangible assets — indefinite lived* |  |  | 4,112,972 |  |  | 4,112,972 |
|  | $ | 7,683,227 |  | $ | 8,178,888 |
* Other identifiable intangible assets — indefinite lived consists of product formulations and the Company’s relationships with its distillers.
Accumulated Amortization [Table Text Block] | Accumulated amortization consists of the following:
|  | March 31, |
|  | 2015 |  | 2014 |
Definite life brands |  | $ | 170,000 |  | $ | 170,000 |
Trademarks |  |  | 295,956 |  |  | 262,098 |
Rights |  |  | 5,513,162 |  |  | 4,961,170 |
Product development |  |  | 24,002 |  |  | 20,350 |
Patents |  |  | 710,654 |  |  | 644,387 |
Other |  |  | - |  |  | - |
Accumulated amortization |  | $ | 6,713,774 |  | $ | 6,058,005 |
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 |
2016 |  | $ | 711,696 |
2017 |  |  | 705,249 |
2018 |  |  | 646,973 |
2019 |  |  | 607,478 |
2020 |  |  | 567,536 |
Total |  | $ | 3,238,932 |

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- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 + Details
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