6. INTANGIBLE ASSETS

12 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

6. INTANGIBLE ASSETS

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

	September 30, 2022							September 30, 2021
	Intangible assets		Accumulated amortization			Net intangible assets		Intangible assets		Accumulated amortization			Net intangible assets
Software	$	210,000	$	—		$	210,000	$	—	$	—		$	—
Websites		23,115		(11,448	)		11,667		8,115		(8,115	)		—
Strategic Contract		9,799,970		(3,536,586	)		6,263,384		9,799,970		(1,577,098	)		8,222,872
Total	$	10,033,085		(3,548,034	)	$	6,485,051	$	9,808,085	$	(1,585,213	)	$	8,222,872

Amortization expense for the years ended September 30, 2022 and 2021 was $1,963,328 and $1,577,098, respectively.

During the years ended September 30, 2022 and 2021 the Company did not incur impairment losses related to the above intangible assets.

The strategic contract relates to supply of a critical input to our bitcoin mining business at significantly low prices compared to market. During the year ended September 30, 2021, the initial allocation of $7,457,970 was adjusted by $2,342,000.

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

Year	September 30, 2022
2023	$	2,017,494
2024		2,017,494
2025		2,014,160
2026		435,903
2027		-
Thereafter		-
Total	$	6,485,051