Intangible Assets

6 Months Ended

Sep. 30, 2015

4.Intangible Assets

Wireless licenses are considered indefinite-lived intangible assets. Indefinite-lived intangible assets are not subject to amortization but instead are tested for impairment annually, or more frequently if an event indicates that the asset might be impaired. The Company believes that no impairment indicators existed as of September 30, 2015 that would require it to perform impairment testing.

During the six months ended September 30, 2015, the Company entered into agreements with several third parties in multiple U.S. markets to acquire wireless licenses for cash consideration upon FCC approval. Also during the period, the Company entered into an agreement with a third party to exchange wireless licenses. The first exchange occurred in June 2015, when the Company transferred wireless licenses to the counterparty. The second exchange is anticipated to occur by the end of Fiscal 2016, when the Company will receive wireless licenses from the counterparty. The second exchange is accounted for as an Other asset in the Company’s consolidated balance sheets as of September 30, 2015.


	Wireless Licenses
Balance at March 31, 2015	$	100,298,444
Acquisitions		1,141,986
Exchanges		(1,358,000)
Balance at September 30, 2015	$	100,082,430