|9 Months Ended|
Dec. 31, 2020
|Goodwill and Intangible Assets Disclosure [Abstract]|
|Intangible Assets||Intangible Assets
The components of intangible assets at December 31, 2020 and March 31, 2020 were as follows:
The Company recorded amortization expense of $670 and $2,011, respectively, during the three and nine months ended December 31, 2020 and $0 during the three and nine months ended December 31, 2019. Amortization expense for the three and nine months ended December 31, 2020 is a component of general and administrative operating expenses in the Consolidated 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 December 31, 2020, the Company expects future amortization expense to be approximately $2,681 per year over the next five fiscal years and $28,465 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