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5. INTANGIBLE ASSETS
9 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS
5.
INTANGIBLE ASSETS

Intangible assets consist of the following as of June 30, 2022 and September 30, 2021:

 

June 30, 2022

 

 

 

Intangible assets

 

 

Accumulated amortization

 

 

Total

 

Patents

 

$

74,112

 

 

$

31,226

 

 

$

42,886

 

Websites

 

 

23,115

 

 

 

10,198

 

 

 

12,917

 

Strategic Contract

 

 

9,799,970

 

 

 

3,048,643

 

 

 

6,751,327

 

Total

 

$

9,897,197

 

 

$

3,090,067

 

 

$

6,807,130

 

 

September 30, 2021

 

 

 

Intangible assets

 

 

Accumulated amortization

 

 

Total

 

Patents

 

$

74,112

 

 

$

28,329

 

 

$

45,783

 

Websites

 

 

8,115

 

 

 

8,115

 

 

 

 

Customer list and non-compete agreement

 

 

6,432,024

 

 

 

4,787,238

 

 

 

1,644,786

 

Design assets

 

 

123,000

 

 

 

123,000

 

 

 

 

Engineering trade secrets

 

 

350,000

 

 

 

350,000

 

 

 

 

Strategic Contract

 

 

9,799,970

 

 

 

1,577,098

 

 

 

8,222,872

 

Total

 

$

16,787,221

 

 

$

6,873,780

 

 

$

9,913,441

 

 

Amortization expense for the three and nine months ended June 30, 2022 was $492,097 and $1,474,627, respectively. Amortization expense for the three and nine months ended June 30, 2021 was $523,290 and $1,050,790, respectively.

The Company expects to record amortization expense of intangible assets over the next 5 years and thereafter as follows:

 

Year

 

June 30,
2022

 

2022 (three months remaining)

 

$

492,214

 

2023

 

 

1,968,857

 

2024

 

 

1,968,857

 

2025

 

 

1,965,523

 

2026

 

 

386,759

 

Thereafter

 

 

24,920

 

 

 

$

6,807,130