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INTANGIBLE ASSETS

12 Months Ended

Sep. 30, 2021

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.