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

additions or impairments to goodwill during the

three

months ended

June 30, 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

nine

month period related to goodwill and intangible assets was an increase of

$96,015.

The Company's intangible assets consisted of the following:

	June 30,			September 30,
	2020			2019
Technology	$	628,386		$	611,043
Customer relationships		601,065			584,477
Trade name portfolio		218,569			212,537
Non-compete agreements		236,782			230,248
Patents		72,126			72,126
		1,756,928			1,710,431
Accumulated amortization		(775,742	)		(534,797	)
	$	981,186		$	1,175,634

Amortization expense was

$74,049

and

$75,354

for the

three

months ended

June 30, 2020

and

2019,

respectively. Amortization expense was

$223,042

and

$228,793

for the

nine

months ended

June 30, 2020

and

2019,

respectively.

As of

June 30, 2020,

future amortization expense is as follows:

Fiscal year ending September 30,
2020 (remaining three months)	$	75,592
2021		246,275
2022		223,126
2023		191,882
2024		178,581
Thereafter		65,730
Total estimated amortization expense	$	981,186