Intangible Assets

6 Months Ended

Mar. 31, 2015

Notes to Financial Statements

Intangible Assets

The following table summarizes the activity of intangible assets for the second fiscal quarter ended March 31, 2015:

	March 31,			September 30,
	2015			2014
Other intangible assets:
Patent license agreement	$	4,550,000		$	4,550,000
Royalty agreements		16,620,566			16,620,565
Technology		6,043,564			6,190,083
Customer relationships		1,860,000			1,860,000
Trade name		278,490			291,486
Other		50,386			50,386
Total intangible assets		29,403,006			29,562,520
Accumulated amortization		(4,143,274	)		(2,818,894	)
Intangible assets, net of accumulated amortization	$	25,259,732		$	26,743,626

The intangible assets summarized above were purchased on various dates from January 2010 through March 2015. The assets have useful lives ranging from three to ten years. Amortization expense for the six months ended March 31, 2015 and 2014 was $939,684 and $473,824, respectively.