v3.21.2
INTANGIBLE ASSETS
 3 Months Ended
Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 6 – INTANGIBLE ASSETS

 

Intangible assets, net, consisted of the following:

        
   As of   As of 
   June 30, 2021   March 31, 2021 
         
Licenses  $142,248   $142,248 
Customer relationships   216,343    170,031 
Software development   12,585    12,585 
    371,176    324,864 
Less:  accumulated amortization   (126,163)   (99,974)
   $245,013   $224,890 

 

Licenses are amortized over five years, whereas customer relationships are amortized over three 3 years. Amortization expense related to these assets for the three months ended June 30, 2021 and 2020 amounted to $26,190 and $14,029 respectively.

 

 

    
Estimated amortization expense for each of the next five years:
     
Fiscal year ended March 31, 2022  $78,569 
Fiscal year ended March 31, 2023   97,842 
Fiscal year ended March 31, 2024   61,533 
Fiscal year ended March 31, 2025   7,069 
Total  $245,013