Note 8 - Intangible Assets

6 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

Note

8

–

Intangible Assets

As a result of the Fulton and Mill City acquisition, the Company has recorded an additional intangible asset for customer relationships of

$0.2

million (see Note

3

‒ Acquisition). The intangible assets with their associated accumulated amortization amounts at

March 31, 2019

and

September 30, 2018

are as follows:

	March 31, 2019
	Gross		Accumulated Amortization			Net
Intangible assets:
Customer relationships – 10 years	$	8,396,000	$	(3,127,589	)	$	5,268,411
Trade name – 10 years		2,119,000		(860,330	)		1,258,670
Non-compete agreements – 3 years		374,000		(352,333	)		21,667
Total intangible assets	$	10,889,000	$	(4,340,252	)	$	6,548,748

	September 30, 2018
	Gross		Accumulated Amortization			Net
Intangible assets:
Customer relationships – 10 years	$	8,152,000	$	(2,713,890	)	$	5,438,110
Trade name – 10 years		2,119,000		(754,380	)		1,364,620
Non-compete agreements – 3 years		374,000		(332,332	)		41,668
Total intangible assets	$	10,645,000	$	(3,800,602	)	$	6,844,398