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INTANGIBLE ASSETS (Tables)
6 Months Ended
Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets and Goodwill [Table Text Block]
The following table summarizes the Company’s intangible assets as of September 30, 2016 and March 31, 2016:
 
 
 
September 30, 2016
 
 
 
Estimated
 
Gross
 
 
 
 
 
 
 
 
 
 
 
 
Useful
 
Carrying
 
 
 
 
Accumulated
 
Net Book
 
 
 
Life
 
Amount
 
Additions
 
Amortization
 
Value
 
Patent application costs
 
*
 
$
364,482
 
$
6,033
 
$
-
 
$
370,515
 
ANDA acquisition costs
 
Indefinite
 
 
6,047,317
 
 
-
 
 
-
 
 
6,047,317
 
 
 
 
 
$
6,411,799
 
$
6,033
 
$
-
 
$
6,417,832
 
 
 
 
March 31, 2016
 
 
 
Estimated
 
Gross
 
 
 
 
 
 
 
 
 
 
 
 
Useful
 
Carrying
 
 
 
 
Accumulated
 
Net Book
 
 
 
Life
 
Amount
 
Additions
 
Amortization
 
Value
 
Patent application costs
 
*
 
$
334,457
 
$
30,025
 
$
-
 
$
364,482
 
ANDA acquisition costs
 
Indefinite
 
 
6,047,317
 
 
-
 
 
-
 
 
6,047,317
 
 
 
 
 
$
6,381,774
 
$
30,025
 
$
-
 
$
6,411,799
 
 
* Patent application costs were incurred in relation to the Company’s abuse deterrent opioid technology. Amortization of the patent costs will begin upon the issuance of marketing authorization by the Food and Drug Administration (“FDA”). Amortization will then be calculated on a straight-line basis through the expiry of the related patent(s).