The components of intangible assets as at December 31, 2013 and March 31, 2013 were as follows:

We complete our annual impairment tests in the fourth quarter of each fiscal year unless events or circumstances indicate that an asset may be impaired. There were no indications of impairment present during the period ended December 31, 2013. However, the Company recorded an increase in intangible assets of $6,826 for the acquisition of MIA in the 9 months ended December 31, 2013. The Company did not record an impairment charge for the year ended March 31, 2013.

The Company has included amortization of acquired intangible assets directly attributable to revenue-generating activities in cost of revenues. During the nine month period ended December 31, 2013 and 2012, the Company recorded amortization expense in the amount of $1,488 and $311, respectively, in cost of revenues.

Based on the amortizable intangible assets as of December 31, 2013, we estimate future amortization expense to be as follows:

The initial accounting of the Intangibles of MIA are incomplete and subject to changes, which may result in significant changes to provisional amounts. The Company has recorded provisional amounts based upon management’s best estimate of the value as a result of preliminary analysis.

Below is a summary of Goodwill and Intangible assets: