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GOODWILL AND INTANGIBLE ASSETS (Tables)
9 Months Ended
Jun. 30, 2022
GOODWILL AND INTANGIBLE ASSETS  
Summary of changes in goodwill

    

June 30, 

    

September 30, 

    

2022

    

2021

Beginning balance

$

1,814,317

$

Acquired

 

2,273,237

 

1,814,317

Ending balance

$

4,087,554

$

1,814,317

Schedule of intangible assets subject to amortization

A table of the Company’s intangible assets subject to amortization at June 30, 2022, and September 30, 2021 is below:

Amortization and

Remaining Life at 

Amortization and

Amortization and 

 Impairment Nine

    

June 30, 

    

    

 Impairment at 

    

Impairment at

    

Months Ended 

Net Book

Intangible assets:

    

2022

    

Original Cost

    

June 30, 2022

    

September 30, 2021

    

June 30, 2022

    

 Value

West Virginia Pipeline

  

  

  

  

  

Customer Relationships

102 months

$

2,209,724

$

331,451

$

165,725

$

165,726

$

1,878,273

Tradename

102 months

263,584

39,545

19,772

19,773

224,039

Non-competes

 

6 months

 

83,203

 

62,405

 

31,202

 

31,203

 

20,798

Revolt Energy

 

  

 

  

 

  

 

  

 

  

 

  

Employment agreement/non-compete

 

22 months

 

100,000

 

69,445

 

13,889

 

55,556

 

30,555

Tri-State Paving

Customer Relationships

118 months

1,649,159

25,552

25,552

1,623,607

Tradename

118 months

203,213

3,288

3,288

199,925

Non-competes

10 months

39,960

6,600

6,600

33,360

Total intangible assets

$

4,548,843

$

538,286

$

230,588

$

307,698

$

4,010,557

Schedule of amortization on identifiable intangible assets

July 2022-June 2023

    

$

503,395

July 2023-June 2024

 

446,456

July 2024-June 2025

 

432,569

July 2025-June 2026

 

432,569

July 2026-June 2027

 

432,569

After

 

1,762,998

Total

$

4,010,557