Intangible Assets

6 Months Ended

Sep. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

4. INTANGIBLE ASSETS

Intangible assets consisted of the following at September 30, 2015 and March 31, 2015:

	September 30, 2015		March 31, 2015
Hydrogen On Demand Intellectual Property	$	650,000	$	650,000
Other		1,000		1,000
Subtotal		651,000		651,000
Less: accumulated amortization		(325,000)		(292,500)
Total intangible assets, net	$	326,000	$	358,500

In January 2009 and April 2011, the Company entered into agreements and obtained Hydrogen On Demand Technology. This intellectual property was valued at $650,000, based on the par value of the shares of common stock issued of $20,000 and $630,000 cash paid by the Company. The Company amortizes the cost over the estimated useful life of 10 years.

For the six months ended September 30, 2015 and 2014, amortization expense recorded by the Company on the intangible assets was $32,500.