6. Intangible Assets

6 Months Ended

12 Months Ended

Sep. 30, 2020

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

NOTE 6 – INTANGIBLE ASSETS

Intangible assets, net, consisted of the following at September 30, 2020:

	As of			As of
	September 30, 2020			March 31, 2020
Licenses	$	142,248		$	142,248
Software/website development		12,585			–
Customer relationships		83,000			83,000
		237,833			225,248
Less:  accumulated amortization		(56,480	)		(28,297	)
	$	181,353		$	196,951

Licenses are amortized over five years, whereas customer relationships and software/website development are amortized over three years. Amortization expense related to these assets for the six months ended September 30, 2020 and 2019 amounted to $28,183 and $0, respectively.

Estimated amortization expense for each of the next five years:

Fiscal year ended March 31, 2021	$	30,156
Fiscal year ended March 31, 2022		60,311
Fiscal year ended March 31, 2023		53,395
Fiscal year ended March 31, 2024		30,422
Fiscal year ended March 31, 2025		7,069
Total	$	181,353

NOTE 6 – INTANGIBLE ASSETS

Intangible assets, net, consisted of the following at March 31, 2020:

	As of
	March 31, 2020
Licenses	$	142,248
Customer relationships		83,000
		225,248
Less:  accumulated amortization		(28,297	)
	$	196,951

Licenses are amortized over five years, whereas customer relationships are amortized over three years. Amortization expense related to these assets for the years ended March 31, 2020 amounted to $28,297.

Estimated amortization expense for each of the next five years:
Fiscal year ended March 31, 2021	$	56,116
Fiscal year ended March 31, 2022		56,116
Fiscal year ended March 31, 2023		49,200
Fiscal year ended March 31, 2024		28,450
Fiscal year ended March 31, 2025		7,069
	$	196,951