Annual report pursuant to Section 13 and 15(d)

Intangible Assets

Intangible Assets

12 Months Ended

Mar. 31, 2018

5. Intangible Assets

Intangible assets consisted of the following (in thousands):


	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


	March 31, 2017
	Weighted
	Average	Intangible
	Amortization	Assets,		Accumulated		Intangible
	Period	Gross		Amortization		Assets, Net
Manufacturing license	17 years	$	3,700	$	3,684	$	16
Technology	10 years		2,240		1,605		635
Trade name & parts, service and TA100 customer relationships	1.2 to 5 years		1,766		1,766		—
Total		$	7,706	$	7,055	$	651

Amortization expense for the intangible assets was $0.3 million for each of the fiscal years ended March 31, 2018 and 2017.

Expected future amortization expense of intangible assets as of March 31, 2018 is as follows (in thousands):


	Amortization
Year Ending March 31,	Expense
2019		224
2020		187
Total expected future amortization	$	411

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 $30,900 and $32,100 were earned by Solar for the fiscal years ended March 31, 2018 and 2017, respectively. Earned royalties of approximately $8,000 and $10,000 were unpaid as of March 31, 2018 and 2017, respectively, and are included in accrued expenses in the accompanying balance sheets.