Annual report pursuant to Section 13 and 15(d)

6. Property, Plant and Equipment Disclosure

v3.6.0.2
6. Property, Plant and Equipment Disclosure
12 Months Ended
Sep. 30, 2016
Notes  
6. Property, Plant and Equipment Disclosure

6.                   Property and Equipment

Property and equipment consist of the following as of September 30:

 

2016

 

 

2015

 

Software

$

47,974

 

$

100,574

 

Leasehold improvements

 

98,023

 

 

98,023

 

Furniture

 

68,758

 

 

68,758

 

Equipment

 

49,772

 

 

59,754

 

 

 

 

 

 

Total property and equipment

 

264,527

 

 

327,109

 

 

 

 

 

 

Accumulated depreciation and amortization

 

(177,793

)

 

(191,339

)

 

 

 

 

 

Property and equipment, net

$

86,734

 

$

135,770

 

 

Assets to be disposed of are reported at the lower of the carrying amounts or fair values, less the estimated costs to sell or dispose.  During fiscal years 2016 and 2015, the Company recorded a loss on the disposal of assets of $2,780 and $42,336, respectively.  During December 2014, the Company sold all of its equipment leased to customers (see Note 3).  Depreciation expense for fiscal years 2016 and 2015 was $50,661 and $56,321, respectively.