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INTANGIBLE ASSETS AND GOODWILL | 12 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS AND GOODWILL | NOTE 4 INTANGIBLE ASSETS AND GOODWILL Intangible Assets The Company’s intangible assets consist of the following:
Schedule of intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | September 30, 2023 |  |  | September 30, 2022 |
|  | 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 |  |  | (203,000 | ) |  |  | (879,000 | ) |  |  | (1,082,000 | ) |  |  | (164,000 | ) |  |  | (705,000 | ) |  |  | (869,000 | )
Net carrying amount |  | $ | 382,000 |  |  | $ | 511,000 |  |  | $ | 893,000 |  |  | $ | 421,000 |  |  | $ | 685,000 |  |  | $ | 1,106,000 |
The Company’s intangible assets resulted from 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 eight years for the customer relationships. During Fiscal 2023 and Fiscal 2022, 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, 2023, estimated amortization expense for the Company’s intangible assets for each of the next five years and thereafter is as follows:
Schedule of estimated amortization expense |  |  |  |
Fiscal 2024 |  | $ | 213,000 |
Fiscal 2025 |  |  | 213,000 |
Fiscal 2026 |  |  | 121,000 |
Fiscal 2027 |  |  | 81,000 |
Fiscal 2028 |  |  | 78,000 |
Thereafter |  |  | 187,000 |
Total |  | $ | 893,000 |
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 and are held under the design segment of our business. 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.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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