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INTANGIBLE ASSETS
 9 Months Ended
Dec. 31, 2014
Goodwill And Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 7:

INTANGIBLE ASSETS

Intangible assets at December 31, 2014 are summarized in the table below:

 

 

 

Gross

Carrying

Value

 

 

Accumulated

Amortization

 

 

Net Carrying

Amount

 

Amortizable assets:

 

 

 

 

 

 

 

 

 

 

 

 

Patents & intellectual property

 

$

9,708,700

 

 

$

(970,870

)

 

$

8,737,830

 

Transition services agreement

 

 

194,200

 

 

 

(194,200

)

 

 

—

 

 

 

$

9,902,900

 

 

$

(1,165,070

)

 

$

8,737,830

 

There were no additions during the Transition 2014 Period. Amortization expense for transition year 2014 and fiscal 2014 were $873,802 and $291,268, respectively.

Estimated amortization expense at December 31, 2014 for each of the five succeeding years is as follows:

 

Year ending December 31,

 

 

 

 

2015

 

$

970,872

 

2016

 

 

970,872

 

2017

 

 

970,872

 

2018

 

 

970,872

 

2019

 

 

970,872

 

Thereafter

 

 

3,883,470

 

Total

 

$

8,737,830