Annual report pursuant to Section 13 and 15(d)

6. Intangibles

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6. Intangibles
12 Months Ended
Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangibles

Note 6:         Intangibles

 

The Company’s intangible assets consist of customer relationship intangibles, trade names, favorable leases, licenses for the use of internet domain names, Universal Resource Locators, or URL’s, software, and marketing and technology related intangibles. All such assets are capitalized at their original cost and amortized over their estimated useful lives as follows: domain name and marketing – 3 to 20 years; software – 3 to 5 years, customer relationships – 7 to 15 years, favorable leases – over the life of the lease, outstanding lists – 20 years, trade names – 20 years. When certain events or changes in operating conditions occur, an impairment assessment is performed and lives of intangible assets with determined lives may be adjusted. Intangible amortization expense is $1,400,582 and $863,864 for the years ended September 30, 2018 and 2017, respectively.

 

The following summarizes estimated future amortization expense related to intangible assets that have net balances:

 

As of September 30.

2019   $ 1,287,603  
2020     1,107,465  
2021     1,052,377  
2022     841,974  
2023     514,407  
Thereafter     1,862,021  
    $ 6,665,847