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Property and Equipment
 12 Months Ended
Sep. 30, 2020
Property, Plant and Equipment [Abstract]  
Property and Equipment

NOTE 10 – PROPERTY AND EQUIPMENT

 

Property and equipment are summarized as follows:

 

    September 30,     September 30,  
    2020     2019  
Land   $ 790,373     $ -  
Building and leasehold improvements     3,875,796       1,233,733  
Furniture and office equipment     621,790       614,569  
Computers and software     4,985,749       5,166,922  
Trade show display     89,330       89,330  
Machinery and equipment     13,668,263       23,463,953  
      24,031,301       30,568,507  
                 
Less: Accumulated depreciation     (14,472,365 )     (13,791,955 )
Property and equipment, net   $ 9,558,936     $ 16,776,552  

 

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, 2019. Depreciation and amortization of property and equipment totaled approximately $2,898,399 and $3,013,986 for fiscal years ended September 30, 2020 and 2019, respectively.

 

At September 30, 2020, the Company has $8,323,321 net value of property and equipment reported on the Consolidated Balance Sheet as Assets held for sale.