Note 4 - Property and Equipment

9 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

NOTE 4 – PROPERTY AND EQUIPMENT

Major classes of property and equipment at June 30, 2022 and September 30, 2021 consist of the following:

	June 30,			September 30,
	2022			2021
Computers, furniture and equipment	$	861,731		$	549,910
Manufacturing equipment		284,275			2,968,838
Leasehold improvements		487,081			870,621
Automobiles		35,979			35,979
		1,669,066			4,425,348
Less accumulated depreciation		(893,589	)		(1,863,774	)
Property and equipment, net	$	775,477		$	2,561,574

Depreciation expense related to property and equipment was $158,555 and $246,532 for the three months ended June 30, 2022 and 2021, respectively and was $770,335 and $719,856 for the nine months ended June 30, 2022 and 2021, respectively.  During the quarter, the Company sold substantially all the assets of its manufacturing facility and as a result the gross investment and accumulated depreciation was removed from the balance sheet, reducing net PP&E.