Intangible Assets

6 Months Ended

Mar. 31, 2016

Notes to Financial Statements

Intangible Assets

The following table summarizes the activity of intangible assets for the second fiscal quarter ended March 31, 2016:

	March 31, 2016			September 30, 2015
Patent & royalty agreements	$	21,170,565		$	21,170,565
Technology		8,804,050			7,442,186
Customer relationships		2,561,674			2,538,496
Trade name		318,604			310,762
Website		78,201			50,386
Total intangible assets		32,933,094			31,512,395
Accumulated amortization		(6,952,227	)		(5,628,308	)
Intangible assets, net of
accumulated amortization	$	25,980,867		$	25,884,087

The intangible assets summarized above were purchased on various dates from January 2010 through March 2016. The assets have useful lives ranging from three to ten years. Amortization expense for the three months ended March 31, 2016 and 2015 was $521,664 and $468,691, respectively. Amortization for the six months ended March 31, 2016 and 2015 was $1,045,612 and $939,684, respectively.