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17. INCOME TAXES (Tables)

12 Months Ended

Sep. 30, 2020

Income Tax Disclosure [Abstract]

Components of provision for income taxes

		Years Ended September 30,
		2020				2019
Current
Federal		$	-			$	-
State			-				-
Total current			-				-
Deferred
Federal			(1,345,300	)			(2,359,000	)
State			-				-
Total deferred			(1,345,300	)			(2,359,000	)
Total provision		$	(1,345,300	)		$	(2,359,000	)

Reconciliation of effective income tax rate

		Years Ended September 30,
		2020				2019
Federal statutory income tax rate			21.0	%			21.0	%
State income taxes, net of federal benefit			(1.1	)			(1.2	)
Permanent differences			3.1				(1.0	)
Contingent derivative expense			(55.3	)			(14.3	)
Limitation on net operating losses			21.3				-
Tax impact of non-controlling interest			-				-
Change in valuation allowance			(0.9	)			0.4
Reclassification to discontinued operations			-				-
Benefit from (provision for) income taxes			(11.9	)%			4.9	%

Significant components of deferred income taxes

		Years Ended September 30,
		2020				2019
Deferred tax assets:
Net operating loss carryforwards		$	5,914,000			$	4,933,000
Capital loss carryforward			616,000				485,000
Allowance for doubtful accounts			5,000				95,000
Stock compensation			691,000				510,000
Investments			685,000				608,000
Accrued expenses			444,000				66,000
Inventory reserve			20,000				0
Capitalized expenses			60,000				66,000
Charitable contributions			42,000				41,700
Total deferred tax assets			8,477,000				6,804,700
Deferred tax liabilities:
Prepaid expenses			(434,000	)			(405,000	)
Management fees			0				0
Intangibles			(4,650,000	)			(4,604,000	)
Fixed assets			(709,000	)			(360,000	)
Total deferred tax liabilities			(5,793,000	)			(5,369,000	)
Net deferred tax assets			2,684,000				1,435,700
Valuation allowance			(3,579,000	)			(3,676,000	)
Net deferred tax liability		$	(895,000	)		$	(2,240,300	)

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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