General form of registration statement for all companies including face-amount certificate companies

Note 5 - Inventories

v3.22.2.2
Note 5 - Inventories
 9 Months Ended 12 Months Ended
Jun. 30, 2022
Sep. 30, 2021
Notes to Financial Statements    
Inventory Disclosure [Text Block]

4. INVENTORIES

 

Inventories consist of the following:

 

   

June 30,

    

September 30,

  
   

2022

    

2021

  

Finished goods

   $ —     $ 249,571  

Goods-in-process

     1,428,264       844,194  

Total

   $ 1,428,264     $ 1,093,765  

 

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. To the extent that inventory is expected to expire prior to being sold or used for research and development or used for samples, the Company will write down the value of inventory.

 

5. INVENTORIES

 

Inventories consist of the following:

 ​

​

    

September 30,

      

September 30,

  

​

​

  

2021

  

​

  

2020

  

Finished Goods

​

   $ 249,571  

​

   $ -  
Goods-in-process     844,194         967,993  

Total

​

   $ 1,093,765  

​

   $ 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. To the extent that inventory is expected to expire prior to being sold or used for research and development or used for samples, the Company will write down the value of inventory.