Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS

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INTANGIBLE ASSETS
 12 Months Ended
Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 4 – INTANGIBLE ASSETS

 

Intangible assets at September 30, 2017 and 2016 consist of:

 

    2017     2016  
License Rights   $ 17,712,991     $ 17,712,991  
Patent Costs     200,000       200,000  
      17,912,991       17,912,991  
Accumulated Amortization     (3,825,389 )     (2,704,772 )
Total Intangible Assets   $ 14,087,602     $ 15,208,219  

 

During the years ended September 30, 2017, and 2016, the Company recognized $1,120,617, and $1,124,644, respectively, in amortization expense on the patents.

 

The estimated future amortization of intangibles for the next five years is as follows:

 

Years ending
September 30,		     Estimated
Amortization
Expense		  
2018     1,117,730  
2019     1,116,449  
2020     1,119,508  
2021     1,115,577  
2022     1,114,596  
Thereafter     8,503,742  
Total   $ 14,087,602