Intangible Assets

9 Months Ended

Jun. 30, 2014

Notes to Financial Statements

(14) Intangible Assets

The following table summarizes the activity of intangible assets for the third fiscal quarter ended June 30, 2014:

	June 30, 2014			September 30, 2013
Other intangible assets:
Patent license agreement	$	4,550,000		$	50,000
Royalty agreements		16,620,565			16,620,565
Technology		6,456,000			-
Customer relationships		1,990,000			-
Trade name		302,000			-
Other		6,214			-
Total intangible assets		29,924,779			16,670,565
Accumulated amortization		(2,112,144	)		(1,256,646	)
Intangible assets, net of
accumulated amortization	$	27,812,635		$	15,413,919

The intangible assets summarized above were purchased on various dates from January 2010 through March 2014. The assets have useful lives ranging from six to ten years. Amortization expense for the three months ended June 30, 2014 and 2013 was $253,630 and 221,630, respectively. During the nine months ended June 30, 2014 and 2013, the Company recorded amortization expense of $715,550 and $707,477, respectively.