Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

Intangible Assets

9 Months Ended

Dec. 31, 2019

7. Intangible Assets

Intangible assets consisted of the following as of December 31, 2019 and March 31, 2019 (in thousands):


	December 31, 2019
	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		2,221		19
Trade name & parts, service and TA100 customer relationships	1.2 to 5 years		1,766		1,766		—
Total		$	7,706	$	7,687	$	19


	March 31, 2019
	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		2,053		187
Trade name & parts, service and TA100 customer relationships	1.2 to 5 years		1,766		1,766		—
Total		$	7,706	$	7,519	$	187

Amortization expense for the intangible assets was $0.1 million and $0.2 million for each of the three and nine months ended December 31, 2019 and 2018, respectively.

Expected future amortization expense of intangible assets as of December 31, 2019 is as follows (in thousands):


	Amortization
Year Ending March 31,	Expense
2020 (remainder of fiscal year)	$	19
Total expected future amortization	$	19

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 $6,200 and $8,100 were earned by Solar for the three months ended December 31, 2019 and 2018, respectively. Royalties of approximately $22,600 and $25,200 were earned by Solar for the nine months ended December 31, 2019 and 2018, respectively. Earned royalties of approximately $48,700 and $26,100 were unpaid as of December 31, 2019 and March 31, 2019, respectively, and are included in accounts payable and accrued expenses in the accompanying condensed consolidated balance sheets.