Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

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Intangible Assets
 6 Months Ended
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Intangible Assets
The components of intangible assets at September 30, 2020 and March 31, 2020 were as follows:
  As of September 30, 2020
(Unaudited)
Cost Accumulated Amortization Net
Developed technology $ 7,926  $ (6,021) $ 1,905 
Customer relationships 46,971  (6,335) 40,636 
Total $ 54,897  $ (12,356) $ 42,541 
  As of March 31, 2020
Cost Accumulated Amortization Net
Developed technology $ 7,926  $ (5,861) $ 2,065 
Customer relationships 46,971  (5,154) 41,817 
Total $ 54,897  $ (11,015) $ 43,882 
The Company recorded amortization expense of $670 and $1,341, respectively, during the three and six months ended September 30, 2020 and $0 during the three and six months ended September 30, 2019. Amortization expense for the three and six months ended September 30, 2020 is a component of general and administrative operating expenses in 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 September 30, 2020, the Company expects future amortization expense to be approximately $2,681 per year over the next five fiscal years and $29,141 in residual expense thereafter.