Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.5.0.2
Intangible Assets
6 Months Ended
Sep. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]  
Intangible Assets

NOTE 5 – INTANGIBLE ASSETS:

Intangible assets are comprised of the following:

 

 

Gross

Carrying

Amount

 

 

Accumulated

Amortization

 

 

Net

Carrying

Amount

 

At September 30, 2016

 

 

 

 

 

 

 

 

 

 

 

 

Intangibles subject to amortization:

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

2,700

 

 

$

1,042

 

 

$

1,658

 

Intangibles not subject to amortization:

 

 

 

 

 

 

 

 

 

 

 

 

Permits

 

$

10,300

 

 

$

 

 

$

10,300

 

Tradename

 

 

2,500

 

 

 

 

 

 

2,500

 

 

 

$

12,800

 

 

$

 

 

$

12,800

 

At March 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

Intangibles subject to amortization:

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

2,700

 

 

$

952

 

 

$

1,748

 

Intangibles not subject to amortization:

 

 

 

 

 

 

 

 

 

 

 

 

Permits

 

$

10,300

 

 

$

 

 

$

10,300

 

Tradename

 

 

2,500

 

 

 

 

 

 

2,500

 

 

 

$

12,800

 

 

$

 

 

$

12,800

 

 

Intangible assets are amortized on a straight line basis over the estimated useful lives.  Intangible amortization expense for each of the three months ended September 30, 2016 and 2015 was $45.  Intangible amortization expense for each of the six months ended September 30, 2016 and 2015 was $90.  As of September 30, 2016, amortization expense is estimated to be $90 for the remainder of fiscal 2017 and $180 in each of the fiscal years ending March 31, 2018, 2019, 2020 and 2021.