GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Jun. 30, 2026

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

15. GOODWILL AND INTANGIBLE ASSETS

The Company follows the guidance of ASC Topic 350, Intangibles-Goodwill and Other, which requires a company to record an impairment charge based on the excess of a reporting unit’s carrying amount of goodwill over its fair value. Under the current guidance, companies can first choose to assess any impairment based on qualitative factors (Step 0). If a company fails this test or decides to bypass this step, it must proceed with a quantitative assessment of goodwill impairment. The Company did not have a goodwill impairment at June 30, 2026 or September 30, 2025.

A table of the Company’s goodwill as of June 30, 2026 and September 30, 2025 is below:



		June 30, 2026			September 30, 2025
Beginning balance		$	9,865,804		$	4,087,554
Acquired			—			5,778,250
Ending balance		$	9,865,804		$	9,865,804

A table of the Company’s intangible assets subject to amortization at June 30, 2026 and September 30, 2025 is below:


							Accumulated			Accumulated			Amortization			Amortization			Amortization			Amortization
		Remaining Life					Amortization and			Amortization and			and Impairment			and Impairment			and Impairment			and Impairment
		(in months) at					Impairment at			Impairment at			Three Months			Three Months			Nine Months			Nine Months			Net Book Value			Net Book Value
		June 30,					June 30,			September 30,			Ended June 30,			Ended June 30,			Ended June 30,			Ended June 30,			at June 30,			at September 30,
		2026		Original Cost			2026			2025			2026			2025			2026			2025			2026			2025
Intangible assets:
West Virginia Pipeline:
Customer relationships		54		$	2,209,724			1,215,345		$	1,049,610			55,245			55,245			165,735			165,735		$	994,379		$	1,160,114
Tradename		54			263,584			144,979			125,215			6,588			6,588			19,764			19,764			118,605			138,369
Non-competes		—			83,203			83,203			83,203			—			—			—			—			—			—

Heritage Painting
Customer relationships		36			121,100			48,432			30,270			6,054			6,054			18,162			18,162			72,668			90,830

Tri-State Paving:
Customer relationships		70			1,649,159			673,407			563,463			27,486			41,229			109,944			123,687			975,752			1,085,696
Tradename		70			203,213			82,979			69,431			3,387			5,081			13,548			15,241			120,234			133,782
Non-competes		—			39,960			39,960			39,960			—			—			—			—			—			—

Tribute Contracting & Consultants
Non-compete 1		101			520,000			82,367			43,333			13,036			13,472			39,034			31,434			437,633			476,667
Non-compete 2		77			10,000			1,992			1,042			326			259			950			605			8,008			8,958
Tradename		41			80,000			25,347			13,333			4,016			2,073			12,014			4,836			54,653			66,667
Backlog		5			1,320,000			1,044,932			550,000			164,932			34,198			494,932			79,795			275,068			770,000

Rigney Digital Systems
Tradename		123			657,100			44,802			—			14,934			—			44,802			—			612,298			657,100
Backlog		15			260,600			97,722			—			32,574			—			97,722			—			162,878			260,600
Non-compete		111			46,300			3,474			—			1,158			—			3,474			—			42,826			46,300

Total intangible assets				$	7,463,943		$	3,588,941		$	2,568,860		$	329,736		$	164,199		$	1,020,081		$	459,259		$	3,875,002		$	4,895,083

Amortization expense associated with the identifiable intangible assets is expected to be as follows:


July 2026 to June 2027		$	998,416
July 2027 to June 2028			625,610
July 2028 to June 2029			593,024
July 2029 to June 2030			559,481
July 2030 to June 2031			429,200
After			669,271
Total		$	3,875,002

The weighted-average amortization period by major intangible asset class and in total are as follows:


Intangible asset class		Remaining Years
Customer relationships		5.1
Tradename		8.5
Non-competes		8.5
Backlog		0.7
All intangible assets		5.8