5. INTANGIBLES, PREPAID BANK FEES AND OTHER ASSETS, NET

Intangible assets consist of the following at January 31, 2015 and January 31, 2014:

	2015		2014
Trademarks and tradenames in Brazil and prepaid costs for Certificate of Approval (“CA”) by the ministry of Labor in Brazil, net of accumulated amortization of $161,496 at January 31, 2015, and $98,000 at January 31, 2014	$	272,139	$	335,635

Bank fees net of accumulated amortization of $389,167 at 2015 and $267,718 at 2014		171,237		1,197,714
	$	443,376	$	1,533,349

Amortization expense included in general and administrative expense was $355,938 and $409,297 for FY15 and FY14, respectively.

Amortization expense for the next five years is as follows: Bank fees: $120,873 for 2016 and $50,364 for 2017.

The changes in the carrying amount of trademarks and trade names during the fiscal years 2015 and 2014 are summarized in the following table:

	Balance Beginning of Year		Changes Resulting from Foreign Exchange Differences		Additions During Year		Changes from Impairment Charges		Balance End of Year

Year ended January 31, 2015	$	335,635	$	(70,695)	$	7,199		—	$	272,139
Year ended January 31, 2014	$	312,238	$	(66,817)	$	90,214		—	$	335,635

Goodwill

On August 1, 2005, the Company purchased Mifflin Valley, Inc., a Pennsylvania manufacturer, the operations of which now comprise the Company’s Reflective division. This acquisition resulted in the recording of $0.9 million in goodwill in FY06. The Company believes that there was no impairment of goodwill as of January 31, 2015. This goodwill is included in the US segment for reporting purposes.