Note 13 - Intangible Assets

12 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

(13) Intangible Assets

The following table summarizes the activity of intangible assets for the years ended September 30, 2025 and 2024, respectively:

	September 30, 2025							September 30, 2024
	Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Royalty agreements	$	21,120,565	$	(16,307,862	)	$	4,812,703	$	21,120,565	$	(15,426,897	)	$	5,693,668
Developed technology		14,315,504		(5,169,434	)		9,146,070		12,399,380		(4,133,477	)		8,265,903
Trade name		138,745		(138,745	)		-		139,592		(139,592	)		-
Total intangible assets	$	35,574,814	$	(21,616,041	)	$	13,958,773	$	33,659,537	$	(19,699,966	)	$	13,959,571

The intangible assets summarized above were purchased or developed on various dates from July 2011 through September 30, 2025. The assets have useful lives ranging from three to twenty years. In previous years, the patents had been fully amortized and the net book value is $0.

Total amortization expense for the years ended September 30, 2025 and 2024 was $2,025,889 and $2,247,513, respectively. Included in the total amortization expense was $1,144,924 and $1,366,019 included in cost of revenue in the Consolidated Statements of Operations for the years ended September 30, 2025 and 2024, respectively, and $880,965 and $881,495 in amortization expense included in operating expense in the Consolidated Statements of Operations for the years ended September 30, 2025 and 2024, respectively.

The following table summarizes the future maturities of amortization of intangible assets as of September 30, 2025:

Fiscal Year	Amortization
2026		2,827,409
2027		3,177,533
2028		2,889,392
2029		2,024,968
2030		2,024,968
Thereafter		1,014,503
Total	$	13,958,773

Goodwill – In accordance with accounting principles generally accepted in the United States of America, we do not amortize goodwill. These principles require the Company to periodically perform tests for goodwill impairment, at least annually, or sooner if evidence of possible impairment arises. We evaluated the goodwill for impairment as of September 30, 2025. Based on the evaluation made, the Company concluded that no impairment of goodwill was necessary.

Goodwill, as of September 30, consisted of the following:

	September 30,
	2025		2024
Balance - beginning of year	$	7,941,190	$	7,851,466
Effect of foreign currency translation on goodwill		358,751		89,724
Balance - end of year	$	8,299,941	$	7,941,190