XML 25 R9.htm IDEA: XBRL DOCUMENT
v3.22.2.2

INTANGIBLE ASSETS AND GOODWILL | 12 Months Ended
--- | ---
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS AND GOODWILL | NOTE 3 INTANGIBLE ASSETS AND GOODWILL Intangible Assets The Company’s intangible assets consist of the following:
Schedule of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | September 30, 2022 |  |  | September 30, 2021 |
|  | Trademarks |  |  | Customer Relationships |  |  | Total Intangible Assets |  |  | Trademarks |  |  | Customer Relationships |  |  | Total Intangible Assets |
Gross carrying amount |  | $ | 585,000 |  |  | $ | 1,390,000 |  |  | $ | 1,975,000 |  |  | $ | 585,000 |  |  | $ | 1,390,000 |  |  | $ | 1,975,000 |
Less accumulated amortization |  |  | (164,000 | ) |  |  | (705,000 | ) |  |  | (869,000 | ) |  |  | (125,000 | ) |  |  | (531,000 | ) |  |  | (656,000 | )
Net carrying amount |  | $ | 421,000 |  |  | $ | 685,000 |  |  | $ | 1,106,000 |  |  | $ | 460,000 |  |  | $ | 859,000 |  |  | $ | 1,319,000 |
The Company’s intangible assets were acquired as a result of the acquisitions of Kablooe and IPS in Fiscal 2020 and Fiscal 2018, respectively, and relate to the design segment of our business. Intangible assets are amortized over their expected useful lives of 15 years for the trademarks and 8 years for the customer relationships. During Fiscal 2022 and Fiscal 2021, the Company recorded amortization expense related to intangible assets of $213,000, which is included in general and administrative expenses in the Company’s consolidated statements of operations. At September 30, 2022, estimated amortization expense for the Company’s intangible assets for each of the next five years and thereafter is as follows:
Estimated amortization expense |  |  |  |
Fiscal 2023 |  | $ | 213,000 |
Fiscal 2024 |  |  | 213,000 |
Fiscal 2025 |  |  | 213,000 |
Fiscal 2026 |  |  | 121,000 |
Fiscal 2027 |  |  | 81,000 |
Thereafter |  |  | 265,000 |
Total |  | $ | 1,106,000 |
Goodwill Goodwill represents the future economic benefits of assets acquired in a business combination that are not individually identified or separately recognized. The Company’s goodwill resulted from the acquisitions of Kablooe and IPS in Fiscal 2020 and Fiscal 2018, respectively. The goodwill associated with the IPS acquisition is not deductible for tax purposes, but the goodwill associated with the Kablooe acquisition is deductible for tax purposes. All of the Company’s goodwill is held under the design segment of our business.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration