Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

v3.5.0.2
INTANGIBLE ASSETS
 9 Months Ended
Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 3 - INTANGIBLE ASSETS

 

Intangible assets at June 30, 2016 and September 30, 2015:

 

    June 30, 2016     September
30, 2015		  
License Rights   $ 17,712,991     $ 17,712,991  
Patent Costs     200,000       200,000  
      17,912,991       17,912,991  
Accumulated Amortization     (2,422,075 )     (1,580,128 )
Total Intangible Assets   $ 15,490,916     $ 16,332,863  

 

During the three and nine month periods ended June 30, 2016, the Company recognized $279,624 and $841,947, respectively, in amortization expense on the patents and license rights. The amortization expense has been included in research and development expense.