5. INTANGIBLE ASSETS

3 Months Ended

Dec. 31, 2020

Finite-Lived Intangible Assets, Net [Abstract]

INTANGIBLE ASSETS

With the Mergers of Cure Based Development, the Company made a strategic shift toward the CBD business and all entities and their associated intangibles were assessed during the year ended September 30, 2019 with that focus and their ability to support that business line.

On December 20, 2018, the Company completed the Mergers with Cure Based Development and acquired certain assets, including the trademark "cbdMD" and its variants and certain other intellectual property. The trademark is the cornerstone of this subsidiary and is key as we create and distribute products and continue to build this brand. We believe the trademark does not have limits on the time it will contribute to the generation of cash flows and therefore we have identified these as indefinite-lived intangible assets (see Note 2 for more information).

In September 2019, the Company purchased the rights to the trademark name HempMD for $50,000. This trademark will be used in the marketing and branding of certain products to be released under this brand name. We believe the trademark does not have limits on the time it will contribute to the generation of cash flows and therefore we have identified these as indefinite-lived intangible assets.

Intangible assets as of December 31, 2020 and September 30, 2020 consisted of the following:

	December 31,		September 30,
	2020		2020
Trademark related to cbdMD	$	21,585,000	$	21,585,000
Trademark for HempMD		50,000		50,000
Total	$	21,635,000	$	21,635,000