3. INTANGIBLE ASSETS

3 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

NOTE 3                  INTANGIBLE ASSETS

The Company’s intangible assets resulted from the acquisitions of Kablooe in August 2020 and IPS in January 2018 and are all held under the design segment of our business. Amortization expense related to intangible assets was $53,000 and $41,000 for the three months ended December 31, 2020 and 2019, respectively, which is included in general and administrative expenses on the condensed consolidated statements of operations.

The Company’s intangible assets consist of the following:

	December 31, 2020									September 30, 2020
	Trademark			Customer Relationships			Total Intangible Assets			Trademark			Customer Relationships			Total Intangible Assets
Gross carrying amount	$	585,000		$	1,390,000		$	1,975,000		$	585,000		$	1,390,000		$	1,975,000
Less accumulated amortization		(96,000	)		(401,000	)		(497,000	)		(86,000	)		(358,000	)		(444,000	)
Net carrying amount	$	489,000		$	989,000		$	1,478,000		$	499,000		$	1,032,000		$	1,531,000

At December 31, 2020, estimated amortization expense for the Company’s intangible assets for each of the next five years and thereafter is as follows:

Remainder of Fiscal 2021	$	160,000
Fiscal 2022		213,000
Fiscal 2023		213,000
Fiscal 2024		213,000
Fiscal 2025		213,000
Thereafter		466,000
Total	$	1,478,000