v3.21.2
6. Intangible Assets
 12 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

NOTE 6 – INTANGIBLE ASSETS

 

Intangible assets, net, consisted of the following at March 31, 2021 and 2020:

 

   As of   As of 
   March 31,
2021		   March 31,
2020		 
         
Licenses  $142,248   $142,248 
Software/website development   12,585    – 
Customer relationships   170,031    83,000 
    324,864    225,248 
Less:  accumulated amortization   (99,974)   (28,297)
   $224,890   $196,951 

 

Licenses are amortized over five years, whereas customer relationships and software/website development are amortized over three years. Amortization expense related to these assets for the years ended March 31, 2021 and 2020 amounted to $71,677 and $28,297, respectively.

 

Estimated amortization expense for each of the next five years:

 

Fiscal year ended March 31, 2022  $89,322 
Fiscal year ended March 31, 2023   82,405 
Fiscal year ended March 31, 2024   46,095 
Fiscal year ended March 31, 2025   7,068 
Total  $224,890