Quarterly report pursuant to Section 13 or 15(d)

Intangible assets

v3.3.1.900
Intangible assets
 9 Months Ended
Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible assets

Note 5. Intangible assets

 

The Company’s intangibles assets consisted of the following:  

 

    Estimated useful life     December 31,
2015		     March 31,
2015		  
Patents     15 years     $ 47,968     $ 26,450  
Less: Accumulated amortization             (2,962 )     (1,044 )
Subtotal             45,006       25,406  
Trademarks     —       1,560       1,560  
Intangible assets, net           $ 46,566     $ 26,966  

  

The Company recorded amortization expense of $378 and $380 for the three months ended December 31, 2015 and 2014, respectively. The Company recorded amortization expense of $1,918 and $760 for the nine months ended December 31, 2015 and the period May 12, 2014 (Inception) through December 31, 2014, respectively. 

 

The following table outlines estimated future annual amortization expense for the next five years and thereafter:

 

December 31,      
2016   $ 3,198  
2017     3,198  
2018     3,198  
2019     3,198  
2020     3,198  
Thereafter     29,016  
    $ 45,006