Intangible Assets

3 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

10. Intangible Assets

	June 30,			March 31,
	2020			2020
Acquired leasehold rights	$	2,500,000		$	2,500,000
Business license		208,756			-
Land use right		2,804,539			-
Backlog		518,362			-
Total Intangible assets		6,031,657			2,500,000
Accumulated amortization		(1,736,628	)		(1,599,995	)
Intangible assets, net	$	4,295,029		$	900,005

In connection with the Business Acquisition as disclosed in Note 5, the Company acquired $3,531,657 of intangible assets. Business license , land use right and backlog has an estimated weighted-average amortization period of approximately 15 years, 46 years and 12 months respectively.

Amortization expense was $136,333 and $33,333 for the three months ended June, 2020 and 2019, respectively. Future amortization associated with the net carrying amount of definite-lived intangible assets is as follows: 

Year Ending June 30,
2021	$	666,737
2022		234,763
2023		234,763
2024		234,763
2025		234,763
Thereafter		2,689,240
Total	$	4,295,029