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FIXED ASSETS

12 Months Ended

Sep. 30, 2017

Accounting Policies [Abstract]

FIXED ASSETS

During the year ending September 30, 2017, the Company disposed of fixed assets with a net book value of $19,817 in exchange for consideration of $7,000. As a result, the company reported a $12,817 loss on disposal of assets for the year ending September 30, 2017.

The Company also impaired certain machinery and equipment totaling $540,775, net of accumulated depreciation for which the company is unable to ensure recoverability of costs.

Fixed assets consist of the following as of September 30, 2017 and September 30, 2016:

		September 30, 2017				September 30, 2016
Machinery and equipment		$	133,061			$	769,276
Furniture and fixtures			74,393				72,484
Total			207,454				841,760
Less: accumulated depreciation			(82,013	)			(58,785)
Fixed assets, net		$	125,441			$	782,975

Depreciation expense for the year ended September 30, 2017 and 2016 was $102,054 and $58,897, respectively.

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- References

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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