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INTANGIBLE ASSETS (Tables)
12 Months Ended
Sep. 30, 2019
INTANGIBLE ASSETS  
Schedule of intangible assets acquired and their carrying values

 

 

 

 

 

 

 

 

 

    

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

 

Schedule of estimated amortization expense of the intangible assets for each of the five succeeding years

 

 

 

 

 

 

    

 Amount

 

 

 

 

2020

 

$

129,432

 

 

 

 

2021

 

 

91,967

 

 

 

 

2022

 

 

91,967

 

 

 

 

2023

 

 

91,967

 

 

 

 

2024

 

 

91,967

 

 

 

 

Thereafter

 

 

237,471

 

 

 

 

Total

 

$

734,771