(6) Goodwill

The carrying value of goodwill of approximately $1,084,000 is not amortized, but is tested annually as of March 31 as well as whenever events or changes in circumstances indicate that the carrying amount may not be recoverable using a two-step process. As of July 31, 2015 and April 30, 2015, management has concluded that no impairment of goodwill is required.