INTANGIBLE AND OTHER ASSETS

9 Months Ended

Jun. 30, 2014

INTANGIBLE AND OTHER ASSETS

INTANGIBLE AND OTHER ASSETS

4. INTANGIBLE AND OTHER ASSETS

On March 25, 2014, SmartData Corporation, entered into an Asset and Intellectual Property Purchase Agreement ("Purchase Agreement"). Pursuant to which the Company acquired: (i) all Intellectual Property rights, title and interest in Patent # 8,105,401 'Parallel Path, Downdraft Gasifier Apparatus and Method' (ii) all Intellectual Property rights, title and interest in Patent # 8,518,133 'Parallel Path, Downdraft Gasifier Apparatus and Method'. Pursuant to the Purchase Agreement the Company agreed to issue 45,477 shares of "SMARTDATA" $0.001 par value common stock a for these intellectual property rights.

Patents, intellectual property and trademarks are capitalized at their historical cost and are amortized over their estimated useful lives. As of June 30, 2014, patents and trademarks total $43,843, net of $3,884 of accumulated amortization.