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

Intangible Assets

v3.19.2
Intangible Assets
9 Months Ended
Feb. 28, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure [Text Block]

Note 11 – Intangible Assets


Intangible assets consisted of the following at February 28, 2019 and May 31, 2018.


February 28, 2019

                       
           

Accumulated

         
   

Gross

   

Amortization

   

Net

 

Intellectual Property

  $ 319,600     $ (15,981

)

  $ 303,619  

License & Customer Relations

    990,000       (24,750

)

    965,250  

Tradenames - Trademarks

    301,000       (15,051

)

    285,949  

Non-compete Agreements

    27,000       (6,750

)

    20,250  

Domain Names 

    2,600       (324

)

    2,276  

Total

  $ 1,640,020     $ (62,856

)

  $ 1,577,344  

May 31, 2018

                       
           

Accumulated

         
   

Gross

   

Amortization

   

Net

 

Intellectual Property

  $ -     $ -     $ -  

License & Customer Relations

    -       -       -  

Tradenames - Trademarks

    -       -       -  

Non-compete Agreements

    -       -       -  

Domain names

    1,726       (828

)

    898  

Total

  $ 1,726     $ (828

)

  $ 898  

Total amortization expense charged to operations for the three months ended February 28, 2019 and 2018 was $20,952 and $108, respectively.  Total amortization expense charged to operations for the nine months ended February 28, 2019 and 2018 was $62,856 and $324, respectively. 


Amount to be amortized during the twelve months ended February 28, 

       

2019

  $ 27,379  

2020

    164,103  

2021

    164,103  

2022

    164,103  

2023

    164,103  

Thereafter

    893,553  
    $ 1,577,344