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Intangibles and Property and Equipment

12 Months Ended

Sep. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangibles and Property and Equipment

NOTE 5 – Intangibles and Property and Equipment

Intangibles

Intangible assets rollforward is as follows:

		Useful Life
Net Intangibles, December 31, 2017		12-13 years		$	216,372
Less: amortization					(16,291	)
Net Intangibles, September 30, 2018					200,081
Less: amortization					(21,243	)
Net Intangibles, September 30, 2019				$	178,838

The Company anticipates amortization expense of approximately $21,000 per year for fiscal year 2020 through 2024 based upon the two current license agreements.

Property and Equipment

Property and equipment held for use by category are presented in the following table: 

		As of September 30,
		2019				2018
Equipment		$	56,457			$	—
Software			1,895				—
Total property and equipment			58,352				—
Less accumulated depreciation			(6,326	)			—
Property and equipment, net		$	52,026			$	—

Depreciation expense was $6,326 and zero for the year ended September 30, 2019 and the nine month transition period ended September 30, 2018, respectively.

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- References

No definition available.

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- Definition

The entire disclosure for all or part of the information related to 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

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