Intangible Assets

9 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Intangible Assets

The following table summarizes the activity of intangible assets for the second fiscal quarter ended June 30, 2016:

	June 30, 2016			September 30, 2015
Other intangible assets:
Patent & royalty agreements		21,170,565			21,170,565
Technology		9,118,932			7,442,186
Customer relationships		2,559,757			2,538,496
Trade name		314,459			310,762
Website		78,201			50,386
Total intangible assets		33,241,914			31,512,395
Accumulated amortization		(7,563,174	)		(5,628,308	)
Intangible assets, net of
accumulated amortization	$	25,678,740		$	25,884,087

The intangible assets summarized above were purchased on various dates from January 2010 through June 2016. The assets have useful lives ranging from three to ten years. Amortization expense of intangible assets for the three months ended June 30, 2016 and 2015 was $527,838 and $622,265, respectively. Amortization for the nine months ended June 30, 2016 and 2015 was $1,573,451 and $1,561,949, respectively.