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Note 8 - Goodwill and Intangible Assets | 3 Months Ended
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Dec. 31, 2019
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] |
8 . | GOODWILL AND INTANGIBLE ASSETS
Goodwill is attributable to the acquisition of Genasys Spain and is due to combining the mass messaging solutions and software development capabilities with existing LRAD products for enhanced offerings and the skill level of the workforce. The Company periodically reviews goodwill for impairment in accordance with relevant accounting standards. There were no additions or impairments to goodwill during the three months ended December 31, 2019. Intangible assets and goodwill related to Genasys Spain are translated from Euros to U.S. dollars at the balance sheet date. The net impact of foreign currency exchange differences arising during the period related to goodwill and intangible assets was an increase of $87,720. The Company’s intangible assets consisted of the following:
|  | December 31, |  |  | September 30, |
|  | 2019 |  |  | 2019 |
Technology |  | $ | 626,587 |  |  | $ | 611,043 |
Customer relationships |  |  | 599,344 |  |  |  | 584,477 |
Trade name portfolio |  |  | 217,943 |  |  |  | 212,537 |
Non-compete agreements |  |  | 236,105 |  |  |  | 230,248 |
Patents |  |  | 72,126 |  |  |  | 72,126 |
|  |  | 1,752,105 |  |  |  | 1,710,431 |
Accumulated amortization |  |  | (622,823 | ) |  |  | (534,797 | )
|  | $ | 1,129,282 |  |  | $ | 1,175,634 |
|  | Three months ended December 31, |
|  | 2019 |  |  | 2018 |
Amortization expense |  | $ | 74,562 |  |  | $ | 76,807 |
Future amortization expense is as follows:
Fiscal year ending September 30: |  |  |  |
2020 (remaining nine months) |  | $ | 226,197 |
2021 |  |  | 245,581 |
2022 |  |  | 222,498 |
2023 |  |  | 191,342 |
2024 |  |  | 178,078 |
Thereafter |  |  | 65,586 |
Total estimated amortization expense |  | $ | 1,129,282 |

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- 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 http://asc.fasb.org/topic&trid=2144416 + Details
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