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Note 8 - Goodwill and Intangible Assets | 6 Months Ended
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Mar. 31, 2020
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 March 31, 2020. 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 six month period related to goodwill and intangible assets was an increase of $21,044. The Company’s intangible assets consisted of the following:
|  | March 31, |  |  | September 30, |
|  | 2020 |  |  | 2019 |
Technology |  | $ | 614,519 |  |  | $ | 611,043 |
Customer relationships |  |  | 587,801 |  |  |  | 584,477 |
Trade name portfolio |  |  | 213,746 |  |  |  | 212,537 |
Non-compete agreements |  |  | 231,558 |  |  |  | 230,248 |
Patents |  |  | 72,126 |  |  |  | 72,126 |
|  |  | 1,719,750 |  |  |  | 1,710,431 |
Accumulated amortization |  |  | (685,589 | ) |  |  | (534,797 | )
|  | $ | 1,034,161 |  |  | $ | 1,175,634 |
Amortization expense was $74,431 and $76,633 for the three months ended March 31, 2020 and 2019, respectively. Amortization expense was $148,994 and $153,440 for the six months ended March 31, 2020 and 2019, respectively. As of March 31, 2020, future amortization expense is as follows:
Fiscal year ending September 30, |  |  |  |
2020 (remaining six months) |  | $ | 148,666 |
2021 |  |  | 240,926 |
2022 |  |  | 218,285 |
2023 |  |  | 187,542 |
2024 |  |  | 174,661 |
Thereafter |  |  | 64,081 |
Total estimated amortization expense |  | $ | 1,034,161 |

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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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