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Supplemental Balance Sheet Information
 12 Months Ended
Sep. 30, 2021
Supplemental Balance Sheet Information [Abstract]  
Supplemental Balance Sheet Information

NOTE 5 – Supplemental Balance Sheet Information

 

Prepaid and Other Assets

 

Prepaid and other assets consisted of the following:

 

   As of September 30, 
   2021   2020 
Prepaid expenses  $151,109   $118,010 
Deferred offering costs   92,934    
—
 
Other   
—
    601 
Total  $244,043   $118,611 

 

Intangibles

 

Intangible assets roll forward is as follows:

 

    Useful Life      
Net Intangibles, September 30, 2019   12-13 years   $ 178,838  
Less: amortization         (22,315 )
Net Intangibles, September 30, 2020         156,523  
Less: amortization         (22,316 )
Net Intangibles, September 30, 2021       $ 134,207  

 

The Company anticipates amortization expense of approximately $21,000 per year for fiscal year 2022 through 2026 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,		 
   2021   2020 
Equipment and furniture  $311,486   $195,756 
Software   1,895    1,895 
Total property and equipment   313,381    197,651 
Less accumulated depreciation   (90,052)   (31,620)
Property and equipment, net  $223,329   $166,031 

 

Depreciation expense was $58,432 and $25,294 for the years ended September 30, 2021 and 2020, respectively.