v3.22.0.1
INTANGIBLE ASSETS
9 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 6 – INTANGIBLE ASSETS

 

Intangible assets, net, consisted of the following as of December 31, 2021, and March 31, 2021: 

          
   As of   As of 
  

December 31,

2021

  

March 31,

2021

 
         
Licenses  $142,248   $142,248 
Software/website development   12,585    12,585 
Customer relationships   216,343    170,031 
    371,176    324,864 
Less: accumulated amortization   (178,542)   (99,974)
   $192,634   $224,890 

 

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 nine months ended December 31, 2021, and 2020 amounted to $78,569 and $49,346, respectively.

 

Estimated amortization expense for each of the next four years:  

     
Fiscal year ended March 31, 2022  $26,189 
Fiscal year ended March 31, 2023   97,842 
Fiscal year ended March 31, 2024   61,532 
Fiscal year ended March 31, 2025   7,071 
Total  $192,634