Schedule of intangible assets |
Intangible assets, net consisted of the following: | | Weighted | | | Gross | | | | | | Net | | | | Average | | | June 30, | | | Accumulated | | | June 30, | | | | Life (Yrs.) | | | 2017 | | | Amortization | | | 2017 | | Indefinite Lived Assets: | | | | | | | | | | | | | | | | | Medicare License | | | N/A | | | $ | 704,000 | | | $ | - | | | $ | 704,000 | | | | | | | | | | | | | | | | | | | Amortized Intangible Assets: | | | | | | | | | | | | | | | | | Acquired Technology | | | 5 | | | | 1,312,500 | | | | (328,125) | | | | 984,375 | | Network Relationships | | | 5 | | | | 220,000 | | | | (128,333) | | | | 91,667 | | Trade Name | | | 5 | | | | 102,000 | | | | (59,500) | | | | 42,500 | | | | | | | | $ | 2,338,500 | | | $ | (515,958) | | | $ | 1,822,542 | | | | Weighted | | | Gross | | | | | | Net | | | | Average | | | March 31, | | | Accumulated | | | March 31, | | | | Life (Yrs.) | | | 2017 | | | Amortization | | | 2017 | | Indefinite Lived Assets: | | | | | | | | | | | | | | | | | Medicare License | | | N/A | | | $ | 704,000 | | | $ | - | | | $ | 704,000 | | | | | | | | | | | | | | | | | | | Amortized Intangible Assets: | | | | | | | | | | | | | | | | | Acquired Technology | | | 5 | | | | 1,312,500 | | | | (262,500) | | | | 1,050,000 | | Non-Compete | | | 4 | | | | 94,672 | | | | (94,672) | | | | - | | Network Relationships | | | 5 | | | | 220,000 | | | | (117,331) | | | | 102,669 | | Trade Name | | | 5 | | | | 145,017 | | | | (97,417) | | | | 47,600 | | | | | | | | $ | 2,476,189 | | | $ | (571,920) | | | $ | 1,904,269 | |
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Schedule of future amortization expense |
The following table summarizes the approximate expected future amortization expense as of June 30, 2017 of definite-lived intangible assets for each for the four fiscal years ending March 31 thereafter: 2018 (remaining 9 months) | | $ | 245,000 | | 2019 | | | 327,000 | | 2020 | | | 284,000 | | 2021 | | | 262,542 | | | | $ | 1,118,542 | |
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