GOODWILL AND OTHER INTANGIBLE ASSETS

9 Months Ended

Jun. 30, 2022

Disclosure Text Block [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

NOTE 5. GOODWILL AND OTHER INTANGIBLE ASSETS

As of June 30, 2022, and September 30, 2021, the balance of goodwill was $1,970,321 and $1,970,321, respectively.

Our other intangible assets, each definite lived assets, consisted of the following as of June 30, 2022, and September 30, 2021:

		June 30,		September 30,
	Useful life	2022		2021
Customer relationships	nine years	$	1,012,000	$	1,012,000
Content library	two years		198,000		198,000
Total intangible assets, gross			1,210,000		1,210,000
Less: accumulated amortization			(591,556)		(507,222)
Total			(591,556)		(507,222)
Total intangible assets, net		$	618,444	$	702,778

Amortization expense charged to operations amounted to $84,333 and $727,715, respectively, for the nine months ended June 30, 2022, and the nine months ended June 30, 2021.

Annual amortization expense for the next five years and thereafter is estimated to be $56,222 (remaining in 2022), $112,444, $112,444, $112,444, $112,444, and $112,444, respectively. The weighted average life of the intangible assets subject to amortization is 5.5 years on June 30, 2022.