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INTANGIBLE ASSETS AND GOODWILL | 9 Months Ended
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Jun. 30, 2024
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 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | June 30, 2024 |  | September 30, 2023
|  | 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 |  |  | (232,000 | ) |  |  | (1,009,000 | ) |  |  | (1,241,000 | ) |  |  | (203,000 | ) |  |  | (879,000 | ) |  |  | (1,082,000 | )
Net carrying amount |  | $ | 353,000 |  |  | $ | 381,000 |  |  | $ | 734,000 |  |  | $ | 382,000 |  |  | $ | 511,000 |  |  | $ | 893,000 |
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. Amortization expense related to intangible assets was $53,000 for the three months ended June 30, 2024 and 2023, and $160,000 for the nine months ended June 30, 2024 and 2023, which is included in general and administrative expenses on the condensed consolidated statements of operations. At June 30, 2024, estimated amortization expense for the Company’s intangible assets is as follows:
Schedule of estimated amortization expense |  |  |  |
Remainder of Fiscal 2024 |  | $ | 53,000 |
Fiscal 2025 |  |  | 213,000 |
Fiscal 2026 |  |  | 121,000 |
Fiscal 2027 |  |  | 82,000 |
Fiscal 2028 |  |  | 78,000 |
Fiscal 2029 |  |  | 39,000 |
Thereafter |  |  | 148,000 |
Total |  | $ | 734,000 |
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.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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