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Other Assets
12 Months Ended
Sep. 30, 2020
Other Assets  
Other Assets

8.  Other Assets

 

Other assets consist of the following:

 

 

 

 

 

 

 

 

 

    

September 30, 

    

September 30, 

 

 

2020

 

2019

Intangible assets, net of accumulated amortization of $583,655 at September 30, 2020 and $551,037 at September 30, 2019

 

$

112,851

 

$

49,200

Operating lease right-of-use assets

 

 

45,126

 

 

 —

Other non-current assets

 

 

91,566

 

 

104,841

 

 

$

249,543

 

$

154,041

 

Intangible assets consist of licensing and certification rights which are amortized over a defined number of units.  No impairment charges were recorded in fiscal 2020,  2019 or 2018.

 

Total intangible amortization expense was $32,618, $19,400 and $0 in fiscal years 2020, 2019 and 2018, respectively. The timing of future amortization expense is not determinable because the intangible assets are being amortized over a defined number of units.

 

On October 1, 2019, we adopted ASU 2016-02 using the required modified retrospective approach. This pronouncement requires lessees to record "right-of-use" assets and corresponding lease liabilities on the balance sheet for most leases. We adopted this pronouncement utilizing the transition practical expedient which eliminated the requirement that entities apply the new lease standard to the comparative periods presented in the year of adoption. See Note 18, "Lease Recognition," to the consolidated financial statements for a discussion of the impact resulting from the adoption of this guidance.

 

Other non-current assets as of September 30, 2020 and September 30, 2019 include the security deposit for an airplane hangar, and a deposit for medical claims required under the Company’s medical plan. In addition, other non-current assets include $16,266 and $29,541 of prepaid software licenses, that will be earned upon the shipment of a certain product to a customer, as of September 30, 2020 and September 30, 2019, respectively.