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

Note 3 - Property and Equipment

v3.23.3
Note 3 - Property and Equipment
9 Months Ended 12 Months Ended
Jun. 30, 2023
Sep. 30, 2022
Notes to Financial Statements    
Property, Plant and Equipment Disclosure [Text Block]

3. PROPERTY AND EQUIPMENT

 

At June 30, 2023 and September 30, 2022, property and equipment consisted of:

 

   

Estimated

                 
   

Useful Life

(in years)

    June 30,
2023
   

September 30,

2022

 
                         

Furniture and fixtures

    5     $ 9,357     $ 9,357  

Leasehold improvements

  Life of Lease       8,983       8,983  

Computer equipment

    3       14,416       14,416  

Lab equipment

    5       1,000       1,000  
              33,756       33,756  

Less – accumulated depreciation

            33,028       31,712  

Property and equipment, net

          $ 728     $ 2,044  

 

For the three months ended June 30, 2023 and 2022, depreciation expense recorded was $273 and $799, respectively. For the nine months ended June 30, 2023 and 2022, depreciation expense recorded was $1,316 and $2,397, respectively.

3.

PROPERTY AND EQUIPMENT

 

At September 30, 2022 and 2021, property and equipment consisted of:

 

   

Estimated

                 
   

Useful Life

(in years)

   

September 30,

2022

   

September 30,

2021

 
                         

Furniture and fixtures

    5     $ 9,357     $ 9,357  

Leasehold improvements

   

Life of Lease

      8,983       8,983  

Computer equipment

    3       14,416       14,416  

Lab equipment

    5       1,000       1,000  
              33,756       33,756  

Less – accumulated depreciation

            31,712       28,516  

Property and equipment, net

          $ 2,044     $ 5,240  

 

For the years ended September 30, 2022 and 2021 depreciation expense recorded was $3,196 and $2,587, respectively.