INTANGIBLE ASSETS

12 Months Ended

Sep. 30, 2015

Intangible Assets, Net (Excluding Goodwill) [Abstract]

INTANGIBLE ASSETS

NOTE D – INTANGIBLE ASSETS

Intangible assets as of September 30, 2015 and 2014 are as follows:

	2015		2014
Internally developed software (5 year useful life)	$	298,797	$	-
Customer relationships (10 year useful life)		621,000		-
Intellectual property (5-15 years)		917,350		469,350
		1,837,147		469,350
Less:
Accumulated amortization		238,368		141,478
Intangible assets, net	$	1,598,779	$	327,872

Total amortization expense charged to operations for the fiscal years ended September 30, 2015 and 2014 were $96,891 and $92,804, respectively.

The following table presents the estimated amortization expense of the intangible assets for each of the five succeeding years as of September 30, 2015:

	Amount
2016	$	216,690
2017		246,570
2018		196,852
2019		151,726
2020		151,726
Thereafter		635,215
Total	$	1,598,779