Note 5 – Intangible Assets

Intangible assets at June 30, 2019 and September 30, 2018 consist of the following:


	Useful	Gross		Accumulated
June 30, 2019	Life (years)	Amount		Amortization		Net
Acquired Customer Base	5 to 15	$	703,000	$	635,000	$	68,000
Know How	15		512,000		376,000		136,000
Trade Names	Indefinite		266,000		—		266,000
Patents	20		223,000		28,000		195,000
Biomedical Technologies	5		260,000		260,000		—
		$	1,964,000	$	1,299,000	$	665,000


	Useful	Gross		Accumulated
September 30, 2018	Life (years)	Amount		Amortization		Net
Acquired Customer Base	5 to 15	$	719,000	$	601,000	$	118,000
Know How	15		512,000		350,000		162,000
Trade Names	Indefinite		272,000		—		272,000
Patents	20		223,000		20,000		203,000
Biomedical Technologies	5		260,000		260,000		—
		$	1,986,000	$	1,231,000	$	755,000

Amortization expense for the three months ended June 30, 2019 and 2018 was $27,000 and $28,000, respectively.

Amortization expense for the nine months ended June 30, 2019 and 2018 was $82,000 and $84,000, respectively.

Estimated amortization expense for each of the next five fiscal years and thereafter is as follows:


	2019 (3 months)		2020		2021		2022		2023		Thereafter		Total
Acquired Customer Base	$	20,000	$	48,000	$	—	$	—	$	—	$	—	$	68,000
Know How		9,000		34,000		34,000		34,000		25,000		—		136,000
Patents		3,000		11,000		11,000		11,000		11,000		148,000		195,000
	$	32,000	$	93,000	$	45,000	$	45,000	$	36,000	$	148,000	$	399,000

The Company continually assesses whether events or changes in circumstances have occurred that may warrant revision of the estimated useful lives of its long-lived assets or whether the remaining balances of those assets should be evaluated for possible impairment. There were no changes, aside from foreign exchange rate fluctuations, in the carrying value of long-lived assets, during the nine months ended June 30, 2019 and 2018.