Annual report pursuant to Section 13 and 15(d)

Intangible Assets

v3.2.0.727
Intangible Assets
12 Months Ended
Mar. 31, 2015
Intangible Assets [Abstract]  
Intangible Assets
Note 3.
Intangible Assets

With the acquisition of CollabRx, and the impairment of the related acquired software in the current fiscal year, as of March 31, 2015, the Company’s intangible assets net value was $501.  The Company does not amortize the trade name as it has an indefinite life subject to annual impairment tests.  The net book value of Goodwill was $603.

Amortization expense was $209 for each fiscal year 2015 and 2014, respectively.  In fiscal year 2015, the Company impaired the value of its Developed Technology by $415, and Customer Relationships by $156.

As of March 31, 2015, intangible assets, net, not including goodwill, consisted of the following:

   
Gross
   
Accumulated
Amortization
   
Impairment
   
Net
 
Developed Technology
 
$
719
   
$
(200
)
 
$
(415
)
 
$
104
 
Customer Relationships
   
433
     
(239
)
   
(156
)
   
38
 
Trade Name
   
346
     
-
     
-
     
346
 
Non Compete Agreement
   
151
     
(138
)
   
-
     
13
 
Total
 
$
1,649
   
$
(577
)
 
$
(571
)
 
$
501
 
 
As of March 31, 2014, intangible assets, net, not including goodwill, consisted of the following:

   
Gross
   
Accumulated
Amortization
   
Impairment
   
Net
 
Developed Technology
 
$
719
   
$
(128
)
 
$
-
   
$
591
 
Customer Relationships
   
433
     
(152
)
   
-
     
281
 
Trade Name
   
346
     
-
     
-
     
346
 
Non Compete Agreement
   
151
     
(88
)
   
-
     
63
 
Total
 
$
1,649
   
$
(368
)
 
$
-
   
$
1,281
 

Future estimated amortization expense is as follows:

Year Ending March 31,
 
Estimated
Amortization
Expense
 
2016
 
$
155
 
2017
   
-
 
2018
   
-
 
2019
   
-
 
2020
   
-
 
Thereafter
   
-
 
   
$
155
 

The Company sold all remaining intangibles, except the NLD related patents, to SPTS on February 9, 2011.  The Company retained the internally developed NLD patents and has sold all of these patents as of March 31, 2014.
 
Amortization expense was $209 for the fiscal years ended March 31, 2015 and 2014, respectively.