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Supplemental Balance Sheet Information
 12 Months Ended
Sep. 30, 2024
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,		 
   2024   2023 
Component inventory  $877,065   $1,202,778 
Work-in-process   192,360    343,597 
Finished goods   1,565,728    180,311 
Total  $2,635,153   $1,726,686 

 

The Company had finished goods on consignment in the amount of $102,318 as of September 30, 2024. There was no consigned inventory as of September 30, 2023. 

 

Intangibles

 

Intangible assets roll forward is as follows:

 

   Useful Life    
Net intangibles, September 30, 2022  12-13 years  $111,892 
Less: amortization      (22,315)
Net intangibles, September 30, 2023      89,577 
Less: amortization      (22,315)
Net intangibles, September 30, 2024     $67,262 

 

The Company anticipates amortization expense of approximately $22,000 per year for fiscal year 2025 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,		 
   2024   2023 
Equipment and furniture  $976,303   $860,737 
Total property and equipment   976,303    860,737 
Less accumulated depreciation   (559,460)   (334,984)
Property and equipment, net  $416,843   $525,753 

 

Depreciation expense was $224,476 and $176,951 for the years ended September 30, 2024 and 2023, respectively. Equipment with a net book value of $39,643 was disposed by the Company resulting in net proceeds of $7,500 during the year ended September 30, 2023.