8 .	GOODWILL AND INTANGIBLE ASSETS

Goodwill is attributable to the acquisition of Genasys Spain and is due to combining the mass messaging solutions and software development capabilities with existing LRAD products for enhanced offerings and the skill level of the workforce. The Company periodically reviews goodwill for impairment in accordance with relevant accounting standards. There were

additions or impairments to goodwill during the

three

months ended

December 31, 2019.

Intangible assets and goodwill related to Genasys Spain are translated from Euros to U.S. dollars at the balance sheet date. The net impact of foreign currency exchange differences arising during the period related to goodwill and intangible assets was an increase of

$87,720.

The Company’s intangible assets consisted of the following:

	December 31,			September 30,
	2019			2019
Technology	$	626,587		$	611,043
Customer relationships		599,344			584,477
Trade name portfolio		217,943			212,537
Non-compete agreements		236,105			230,248
Patents		72,126			72,126
		1,752,105			1,710,431
Accumulated amortization		(622,823	)		(534,797	)
	$	1,129,282		$	1,175,634

	Three months ended December 31,
	2019		2018
Amortization expense	$	74,562	$	76,807

Future amortization expense is as follows:

Fiscal year ending September 30:
2020 (remaining nine months)	$	226,197
2021		245,581
2022		222,498
2023		191,342
2024		178,078
Thereafter		65,586
Total estimated amortization expense	$	1,129,282