|3 Months Ended|
Jun. 30, 2020
|Goodwill and Intangible Assets Disclosure [Abstract]|
|Intangible Assets||Intangible Assets
The components of intangible assets at June 30, 2020 and March 31, 2020 were as follows:
The Company recorded amortization expense of $670 during the three months ended June 30, 2020 and $0 during the three months ended June 30, 2019. Amortization expense for the three months ended June 30, 2020 is a component of general and administrative operating expenses on the Statements of Operations and Comprehensive Income / (Loss). The determination of the expense category for amortization of intangible assets is determined by capitalization under ASC 350, Intangibles - Goodwill and Other, or ASC 985-20, Costs of Software to be Sold, Leased, or Otherwise Marketed. ASC 350 leads to accounting for amortization of intangible assets under operating expenses, while ASC 985-20 leads to accounting for amortization of intangible assets under other direct costs of revenues.
Based on the amortizable intangible assets as of June 30, 2020, the Company expects future amortization expense to be approximately $2,681 per year over the next five fiscal years and $29,811 in residual expense thereafter.
The entire disclosure for all or part of the information related to intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef