Property and Equipment

9 Months Ended

Jun. 30, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

4. Property and Equipment

The Company’s property and equipment consisted of the following at the respective balance sheet dates:

	June 30,			September 30,
	2022			2021
Land	$	-		$	114,200
Building		-			305,800
Machinery and equipment		66,264			66,264
Computer/office equipment		38,785			38,785
		105,049			525,049
Less accumulated depreciation		(73,276	)		(75,388	)
	$	31,773		$	449,661

On April 1, 2022, the Company sold its land and building the Noteholder C. The land and building were carried at cost of $420,000 and accumulated depreciation of $18,950. The Company received consideration totaling $825,000 with $645,000 allocated to the October 2019 note payable (Note 5) and $180,000 to related accrued interest. As a result of the sale, the Company recognized a $423,950 gain on disposition of assets.