NOTE
5. INTANGIBLE ASSETS
Our
intangible assets, each definite lived assets, consisted of the following as of June 30, 2025, and September 30, 2024:
SCHEDULE OF INTANGIBLE ASSETS
| | |
Useful life | |
June 30, 2025 | | |
September 30, 2024 | |
| Customer relationships | |
nine years | |
$ | 1,012,000 | | |
$ | 1,012,000 | |
| Content library | |
two years | |
| 198,000 | | |
| 198,000 | |
| Total intangible assets, gross | |
| |
| 1,210,000 | | |
| 1,210,000 | |
| | |
| |
| | | |
| | |
| Less: accumulated amortization | |
| |
| (928,889 | ) | |
| (844,556 | ) |
| Total | |
| |
| (928,889 | ) | |
| (844,556 | ) |
| Total intangible assets, net | |
| |
$ | 281,111 | | |
$ | 365,444 | |
Amortization
expense was charged to operations as follows:
SCHEDULE OF AMORTIZATION EXPENSE
| | |
Three Months Ended June 30, | | |
Nine Months Ended June 30, | |
| | |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| Amortization expense | |
$ | 28,111 | | |
$ | 28,111 | | |
$ | 84,333 | | |
$ | 84,333 | |
Annual
amortization expense for the next five years and thereafter is estimated as:
SCHEDULE OF ANNUAL AMORTIZATION EXPENSE
| | |
| | |
| Remaining in fiscal year 2025 | |
$ | 28,111 | |
| 2026 | |
| 112,444 | |
| 2027 | |
| 112,444 | |
| 2028 | |
| 28,112 | |
| 2029 | |
| — | |
| Total | |
$ | 281,111 | |
The
weighted average life of the intangible assets subject to amortization is 2.5 years as of June 30, 2025.
|