Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

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INTANGIBLE ASSETS
 6 Months Ended
Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS

NOTE 3 – INTANGIBLE ASSETS

 

Intangible assets at March 31, 2017 and September 30, 2016:

 

    March 31,     September 30,  
    2017     2016  
License Rights   $ 17,712,991     $ 17,712,991  
Patent Costs     200,000       200,000  
      17,912,991       17,912,991  
Accumulated Amortization     (3,264,022 )     (2,704,772 )
Total Intangible Assets   $ 14,648,969     $ 15,208,219  

 

During the three month and six month periods ended March 31, 2017 the Company recognized $276,551, and $559,250, respectively, in amortization expense on the patents and license rights. The amortization expense has been included in research and development expense.