Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

Intangible Assets

3 Months Ended

Jun. 30, 2018

7. Intangible Assets

Intangible assets consisted of the following as of June 30, 2018 and March 31, 2018 (in thousands):


	June 30, 2018
	Weighted
	Average	Intangible
	Amortization	Assets,		Accumulated		Intangible
	Period	Gross		Amortization		Assets, Net
Manufacturing license	17 years	$	3,700	$	3,700	$	—
Technology	10 years		2,240		1,885		355
Trade name & parts, service and TA100 customer relationships	1.2 to 5 years		1,766		1,766		—
Total		$	7,706	$	7,351	$	355


	March 31, 2018
	Weighted
	Average	Intangible
	Amortization	Assets,		Accumulated		Intangible
	Period	Gross		Amortization		Assets, Net
Manufacturing license	17 years	$	3,700	$	3,700	$	—
Technology	10 years		2,240		1,829		411
Trade name & parts, service and TA100 customer relationships	1.2 to 5 years		1,766		1,766		—
Total		$	7,706	$	7,295	$	411

Amortization expense for the intangible assets was $0.1 million during the first quarter of each of Fiscal 2019 and 2018, respectively.

Expected future amortization expense of intangible assets as of June 30, 2018 is as follows (in thousands):


	Amortization
Year Ending March 31,	Expense
2019 (remainder of fiscal year)		168
2020		187
Total expected future amortization	$	355

The manufacturing license provides the Company with the ability to manufacture recuperator cores previously purchased from Solar Turbines Incorporated (“Solar”). The Company is required to pay a per-unit royalty fee over a seventeen-year period for cores manufactured and sold by the Company using the technology. Royalties of approximately $7,100 and $6,500 were earned by Solar for the first quarter of Fiscal 2019 and 2018, respectively. Earned royalties of approximately $7,100 and $8,000 were unpaid as of June 30, 2018 and March 31, 2018, respectively, and are included in accounts payable and accrued expenses in the accompanying condensed consolidated balance sheets.