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Intangibles and Property and Equipment

12 Months Ended

Sep. 30, 2020

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, 2018		12-13 years		$	200,081
Less: amortization					(21,243	)
Net Intangibles, September 30, 2019					178,838
Less: amortization					(22,315	)
Net Intangibles, September 30, 2020				$	156,523

The Company anticipates amortization expense of approximately $21,000 per year for fiscal year 2021 through 2025 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,
		2020				2019
Equipment and furniture		$	195,756			$	56,457
Software			1,895				1,895
Total property and equipment			197,651				58,352
Less accumulated depreciation			(31,620	)			(6,326	)
Property and equipment, net		$	166,031			$	52,026

Depreciation expense was $25,294 and $6,326 for the years ended September 30, 2020 and 2019, 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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