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Supplemental Balance Sheet Information
 12 Months Ended
Sep. 30, 2022
Supplemental Balance Sheet Information [Abstract]  
Supplemental Balance Sheet Information

NOTE 5 – Supplemental Balance Sheet Information

 

Inventory

 

Inventory consisted of the following:

 

   As of
September 30,		 
   2022   2021 
Work-in-process  $630,570   $98,287 
Finished goods   73,968    
—
 
Total  $704,538   $98,287 

 

Prepaid and Other Assets

 

Prepaid and other assets consisted of the following:

 

   As of
September 30,		 
   2022   2021 
Prepaid expenses  $296,649   $151,109 
Deferred offering costs   
—
    92,934 
Total  $296,649   $244,043 

 

Intangibles

 

Intangible assets roll forward is as follows:

 

   Useful Life    
Net Intangibles, September 30, 2020  12-13 years  $156,523 
Less: amortization      (22,316)
Net Intangibles, September 30, 2021      134,207 
Less: amortization      (22,315)
Net Intangibles, September 30, 2022     $111,892 

 

The Company anticipates amortization expense of approximately $22,000 per year for fiscal year 2023 through 2027 based upon the two current license agreements. 

 

Property and Equipment

 

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

   As of
September 30,		 
   2022   2021 
Equipment and furniture  $538,061   $311,486 
Software   1,895    1,895 
Total property and equipment   539,956    313,381 
Less accumulated depreciation   (186,357)   (90,052)
Property and equipment, net  $353,599   $223,329 

 

Depreciation expense was $96,305 and $58,432 for the years ended September 30, 2022 and 2021, respectively.