Intangible Assets

12 Months Ended

Mar. 31, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

(4) Intangible Assets

Intangible assets at March 31, 2012 and 2011 consisted of the following:

	2012		2011
Customer contracts	$	122,000	$	122,000
Less accumulated amortization		28,806		20,672
	$	93,194	$	101,328

Customer contracts are being amortized over a fifteen-year period. For the years ended March 31, 2012 and 2011, amortization expense was $8,134 and $8,133, respectively. Amortization expense for the five succeeding fiscal years is estimated to be $8,133 for each of the years ending March 31, 2013 through March 31, 2017.

At March 31, 2011, the sale of the Upstate Region and the release of ITG’s former President from his non-competition agreement triggered an impairment valuation of the Company’s amortizable intangible assets. An evaluation of the undiscounted cash flows determined that $372,089 of the customer contracts intangible assets and $17,208 of non-competition intangible assets had become impaired and, therefore, were recorded as a reduction of the gain on sale of discontinued operations in the accompanying Statement of Operations at March 31, 2011.