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6. INTANGIBLE ASSETS
 9 Months Ended
Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
6. INTANGIBLE ASSETS

6. INTANGIBLE ASSETS

 

The Company amortizes intangible assets with finite lives over their estimated useful lives, which range between two and twenty years as follows:

 

Useful life    
Patents   13-20 years
Websites   3 years
Customer list and non-compete agreement   1.5-4 years
Design assets   2 years
Trademarks   14 years
Engineering trade secrets   1-7 years
Strategic contract   5 years
Software   4 years

 

Intangible assets consist of the following as of June 30, 2021 and September 30, 2020:

 

   June 30, 2021   September 30, 2020
Customer list and non-compete agreement  $11,824,757   $6,702,024
Strategic contract   7,457,970    —  
Trade secrets   4,370,269    4,370,269
Software   1,120,000    1,120,000
Design assets   123,000    123,000
Patents   74,112    74,112
Websites   8,115    8,115
Trademarks   5,928    5,928
Intangible assets:   24,984,151    12,403,448
Less: accumulated amortization   (9,592,806)   (5,353,792)
Intangible assets, net  $15,391,345   $7,049,656

 

 

Amortization expense for the nine months ended June 30, 2021 and 2020 was $4,239,280 and $1,952,779, respectively.

 

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

    
 2021 (three months remaining)   $1,941,474
 2022    7,072,469
 2023    2,492,479
 2024    2,065,344
 2025    1,495,888
 Thereafter    323,691
 Total   $15,391,345