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Goodwill and Intangible Assets
 3 Months Ended
Jun. 30, 2012
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Disclosure [Text Block]

Goodwill and Intangible Assets

 

Goodwill represents the excess of the purchase price over the fair value of net assets acquired. Goodwill is tested for possible impairment at least annually.  We perform our tests as of March 31, the last day of our fourth fiscal quarter, unless an event occurs that would cause us to believe the value is impaired at an interim date. 

 

The following table presents certain information regarding our intangible assets at June 30, 2012:

 

    Estimated     Carrying     Accumulated        
    Useful Lives     Value     Amortization     Net  
Customer contracts     15 years     $ 122,000     $ (30,839 )   $ 91,161  

 

Intangible assets are being amortized on a straight-line basis over their estimated useful lives. For the three months ended June 30, 2012, amortization expense was $2,033. Assuming no changes in our intangible assets, estimated amortization expense for the remainder of the current fiscal year ending March 31, 2013 will be $6,100 and will be $8,133 in each of the four succeeding fiscal years.

 

We assess the recoverability of the carrying value of the identifiable intangible assets with finite useful lives, whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable.