INTANGIBLE ASSETS

12 Months Ended

Sep. 30, 2019

INTANGIBLE ASSETS

INTANGIBLE ASSETS

NOTE E – INTANGIBLE ASSETS

Intangible assets at September 30, 2019 and 2018 are as follows:

	2019		2018
Internally developed software (5‑year useful life)	$	157,221	$	157,221
Customer relationships (10‑year useful life)		621,000		621,000
Intellectual property (5‑15 years)		917,350		917,350
		1,695,571		1,695,571
Less:
Accumulated amortization		960,800		831,368
Intangible assets, net	$	734,771	$	864,203

Total amortization expense charged to operations for the fiscal years ended September 30, 2019 and 2018 were $129,432 and $177,872,  respectively.

The following table presents the estimated amortization expense of the intangible assets for each of the five succeeding years as of September 30, 2019:

	Amount
2020	$	129,432
2021		91,967
2022		91,967
2023		91,967
2024		91,967
Thereafter		237,471
Total	$	734,771