v3.7.0.1
7. Property and Equipment
 6 Months Ended
Mar. 31, 2017
Notes  
7. Property and Equipment

7.                   Property and Equipment

Property and equipment are stated at cost, less accumulated depreciation and amortization.  Depreciation and amortization are determined using the straight-line method over the estimated useful lives of the assets, which range between 3 and 7 years.  Leasehold improvements are amortized over the shorter of the estimated useful lives of the assets or the terms of the lease.  Expenditures for maintenance and repairs are expensed as incurred.  Upon the sale or disposal of property and equipment, any gains or losses are included in operations.  Property and equipment consisted of the following as of:

 

March 31,

2017

 

 

September 30,

2016

 

Software

$

47,974

 

$

47,974

 

Leasehold improvements

 

98,023

 

 

98,023

 

Furniture

 

68,758

 

 

68,758

 

Equipment

 

52,590

 

 

49,772

 

 

 

 

 

 

Total property and equipment

 

267,345

 

 

264,527

 

 

 

 

 

 

Accumulated depreciation and amortization

 

(199,853

)

 

(177,793

)

 

 

 

 

 

Property and equipment, net

$

67,492

 

$

86,734

 

Assets to be disposed of are reported at the lower of the carrying amounts or fair values, less the estimated costs to sell or dispose.  During the six months ended March 31, 2016, the Company recorded a gain on the disposal of property and equipment of $245.  Depreciation expense for the six months ended March 31, 2017 and 2016, was $22,060 and $26,325, respectively.