Note 4 - Asset Purchases
|12 Months Ended|
Mar. 31, 2016
|Note 4 - Asset Purchases||
NOTE 4 ASSET PURCHASES
VIM Injection Management Inc.
On November 14, 2014, the Company, entered into an agreement to purchase the assets of VIM Injection Management Inc. Pursuant to the asset purchase agreement, the purchase price of the assets consisted of a one-time payment of $750,000 in cash and 265,958 shares of the Companys common stock, which was valued at $1,000,000 ($3.76 per share). The value of the stock was based on the trading price on the date of issuance. Acquisition-related costs during the year ended March 31, 2015, which are included in the selling, general, and administrative expense in the accompanying consolidated statements of income, were not material. The results of operations related to this acquisition have been included in our Canadian segment since the acquisition date.
The total purchase price was allocated as follows:
With respect to the intangible assets of VIM, the Company intends to amortize each as follows, as this is the length of time the Company currently estimates that it will generate cash flow from the assets:
The total weighted-average amortization period for these acquired intangible assets is 20 years.
Disclosure of accounting policy for business combinations and other business acquisition transactions not accounted for using the purchase method, such as an exchange of shares between entities under common control.
Reference 1: http://www.xbrl.org/2003/role/presentationRef