GOODWILL AND OTHER INTANGIBLE ASSETS

9 Months Ended

Jun. 30, 2025

GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS

4. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill at June 2025 and September 2024 was as follows:

	June		September
	2025		2024
Wholesale Segment	$	5,778,325	$	5,778,325

Other intangible assets at June 2025 and September 2024 consisted of the following:

	June		September
	2025		2024
Customer lists (Wholesale Segment) (less accumulated amortization of $0.6 million at June 2025 and $0.5 million at September 2024)	$	2,823,749	$	2,996,348
Non-competition agreements (Wholesale Segment) (less accumulated amortization of $0.3 million at June 2025 and $0.2 million at September 2024)		49,083		106,505
Tradename (Wholesale Segment) (less accumulated amortization of $0.5 million at June 2025 and $0.4 million at September 2024)		983,452		1,144,381
Trademarks and tradenames (Retail Segment)		500,000		500,000
	$	4,356,284	$	4,747,234

Goodwill and Retail Segment trademarks and tradenames are considered to have indefinite useful lives and therefore no amortization has been taken on these assets. Goodwill recorded on the Company’s consolidated balance sheets represent amounts allocated to its wholesale reporting unit which totaled approximately $5.8 million at both June 2025 and September 2024. The Company performs its annual impairment testing during the fourth fiscal quarter of each year or as circumstances change or necessitate. There have been no material changes to the Company’s impairment assessments since its fiscal year ended September 2024.

At June 2025, identifiable intangible assets considered to have finite lives were represented by customer lists which are being amortized over 15 years, a non-competition agreement which is being amortized over five years, and a tradename in our Wholesale Segment that is being amortized over seven years. These intangible assets are evaluated for accelerated attrition or amortization adjustments if warranted. Amortization expense related to these assets was approximately $0.1 million and $0.4 million for the three- and nine-month periods ended June 2025, respectively, and approximately $0.1 million and $0.4 million for the three- and nine-month periods ended June 2024, respectively.

Estimated future amortization expense related to identifiable intangible assets with finite lives was as follows at June 2025:

	June
	2025
Fiscal 2025 (1)	$	115,926
Fiscal 2026		463,703
Fiscal 2027		463,703
Fiscal 2028		451,037
Fiscal 2029		444,703
Fiscal 2030 and thereafter		1,917,212
	$	3,856,284

(1) Represents amortization for the remaining three months of Fiscal 2025.