7 INTANGIBLE ASSETS

3 Months Ended

Jun. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

7 INTANGIBLE ASSETS

7.       INTANGIBLE ASSETS

We amortize our intangible assets that have finite lives using either the straight-line method or based on estimated future cash flows to approximate the pattern in which the economic benefit of the asset will be utilized. Amortization expense was $6,250 and $6,250 during the three month periods ended June 30, 2015 and 2014, respectively. This amortization expense relates to customer lists, which expire through 2019.

Estimated annual amortization expense (including amortization expense associated with capitalized software costs) for the current year and the following four years ending March 31, is as follows:

	Amortization Expense
	(In Thousands)
2016	$25
2017	$25
2018	$25
2019	$18

As part of the Linear acquisition, the company acquired two products namely, Simple APO and IBP. The product was valued on the basis of the expected cash flow that will generated over its useful life. An amount of $814,522 has been recognised under Intangible assets. The acquired products are undergoing further enhancements and hence has not been subjected to amortization. The amortization for the products will commence once it is ready for use.

Apart from this, the company had its own product namely, Langer Index for which we are designing an App. Cost incurred for building the App during the period ended June 30, 2015 was $ 163,893.