Quarterly report pursuant to Section 13 or 15(d)

Note 4 - Inventories

v3.22.2
Note 4 - Inventories
 9 Months Ended
Jun. 30, 2022
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.