INTANGIBLE ASSET

3 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 4 – INTANGIBLE ASSET

On June 1, 2021, the Company completed the closing of the transactions under the terms of the Asset Purchase Agreement with Andrei Seleznev, Nikolay Alekseev, and Ilia Alekseev (collectively, “Sellers”), dated May 12, 2021, to purchase the assets comprising the Wind Turbine Technology. In exchange for these assets, the Company paid $100,000 in cash, and issued 14,289 shares of its common stock to the Sellers. The shares were valued at $800,000 based on the average of the closing price per share of the Company’s common stock for the 30 trading days prior to the effective date of the agreement. In addition, the Company entered into employment agreements with each Seller to further develop the wind turbine technology and acquired assets. Before this transaction, the Company had no material relationship with any of the Sellers.

Intangible asset stated at cost, less accumulated amortization consisted of the following:


	December 31, 2023			September 30, 2023
Wind Turbine Technology	$	900,000		$	900,000
Less: accumulated amortization		(225,000	)		(180,000	)
Intangible asset, net	$	675,000		$	720,000

Amortization expense

Amortization expense for the three months ended December 31, 2023 and 2022 was $45,000 and $45,000. respectively.

ZEUUS, INC. 10-Q