Quarterly report pursuant to Section 13 or 15(d)

INVENTORIES

v3.20.4
INVENTORIES
 3 Months Ended
Dec. 31, 2020
INVENTORIES  
INVENTORIES

4.INVENTORIES

Inventories consist of the following:

 

 

 

 

 

 

 

 

 

    

December 31, 

    

September 30, 

 

 

2020

 

2020

Finished Goods

 

$

300,009

 

$

 —

Goods-in-process

 

 

715,731

 

 

967,993

Total

 

$

1,015,740

 

$

967,993

 

The Company capitalizes inventory that has been produced for commercial sale and has been determined to have a probable future economic benefit. The determination of whether or not the inventory has a future economic benefit requires estimates by management. Our inventory levels are analyzed to identify inventory that may expire prior to sale. To the extent that inventory is expected to expire prior to being sold,  the Company will write down the value of inventory.