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INTANGIBLE ASSETS | 12 Months Ended
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Sep. 30, 2021
INTANGIBLE ASSETS |
INTANGIBLE ASSETS | NOTE 4 – INTANGIBLE ASSETS For the years ended September 30, 2021 and 2020, we incurred website development and trademark costs of $117,890 and $296,511, respectively. These costs historically have been capitalized, as the website is in the development stage, resulting in improved functionality. Amortization of the website commenced when the website was placed in service for its intended use during the fourth quarter of 2021. Legal fees incurred for registration of trademarks account for all of the costs of trademark at September 30, 2021. Amortization of these costs will commence when the trademark application and registration process has been completed. The weighted average useful life of the intellectual property is 3.0 years. Identifiable intangible assets with definite lives are amortized over the period of estimated benefit using the straight-line method and the estimated useful lives of three years. The straight-line method of amortization represents management’s best estimate of the distribution of the economic value of the identifiable intangible assets. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2021 |  | September 30, 2020
​ |  | Gross |  | ​ | ​ |  | Net |  | Gross |  | ​ | ​ |  | Net
​ |  | Carrying |  | Accumulated |  | Carrying |  | Carrying |  | Accumulated |  | Carrying
Finite-Lived Intangible Assets |  | Amount | ​ | Amortization |  | Amount |  | Amount | ​ | Amortization |  | Amount
Website design and development | ​ | $ | 2,660,391 | ​ | $ | (221,699) | ​ | $ | 2,438,692 | ​ | $ | 2,597,091 | ​ | $ | — | ​ | $ | 2,597,091
Intellectual property | ​ |  | 71,182 | ​ |  | (69,205) | ​ |  | 1,977 | ​ |  | 71,182 | ​ |  | (45,477) | ​ |  | 25,705
Trademark | ​ |  | 54,590 | ​ |  | — | ​ |  | 54,590 | ​ |  | — | ​ |  | — | ​ |  | —
Total Finite-Lived Intangible Assets | ​ | $ | 2,786,163 | ​ | $ | (290,904) | ​ | $ | 2,495,259 | ​ | $ | 2,668,273 | ​ | $ | (45,477) | ​ | $ | 2,622,796
​ Total future amortization expense for finite-lived intellectual property is as follows: ​
​ | ​ | ​ | ​
Years Ended September 30, 2021 |  | Future Amortization
2022 | ​ | $ | 888,774
2023 | ​ |  | 886,797
2024 | ​ |  | 719,688
Total Future Amortization Expense | ​ | $ | 2,495,259
​ For the years ended September 30, 2021 and 2020, amortization expense for the intangible assets was $245,427 and $23,728 respectively.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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