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Property and Equipment

12 Months Ended

Sep. 30, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment

NOTE 8 – PROPERTY AND EQUIPMENT

Property and equipment are summarized as follows:

		September 30,				September 30,
		2018				2017
Land		$	1,241,720			$	1,241,720
Building			5,143,921				5,229,075
Furniture and office equipment			2,685,315				1,678,936
Computers and software			6,762,046				1,723,408
Machinery and equipment			22,102,390				17,176,599
			37,935,392				27,049,738
Less: Accumulated depreciation			(10,634,738	)			(6,931,427	)
Property and equipment, net		$	27,300,654			$	20,118,311

The Company completed the annual impairment test of property and equipment and determined that there was no impairment as the fair value of property and equipment, substantially exceeded their carrying values at September 30, 2018. Depreciation and amortization of property and equipment totaled approximately $4,181,120 and $3,141,610 for fiscal years ended September 30, 2018 and 2017, respectively.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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