Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS (Tables)

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INTANGIBLE ASSETS (Tables)
12 Months Ended
Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of intangible assets

Intangible assets at September 30, 2015 and 2014 consist of:

 

 

    2015   2014
License Rights   $ 17,712,991     $ 17,712,991  
Patent Costs     200,000       800,000  
      17,912,991       18,512,991  
Accumulated Amortization     (1,580,128 )     (702,591 )
Total Intangible Assets   $ 16,332,863     $ 17,810,400  
Estimated future amortization of intangibles

The estimated future amortization of intangibles is as follows:

 

Years ending
September 30,
  Estimated
Amortization Expense
2016 $ 1,124,645
2017   1,120,616
2018   1,117,731
2019   1,116,449
2020   1,119,508
Total $ 5,598,949