Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS (Tables)

v3.19.2
INTANGIBLE ASSETS (Tables)
12 Months Ended
May 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets [Table Text Block]
Intangible assets consisted of the following at May 31, 2019 and 2018:

May 31, 2019

         

Accumulated

         
   

Gross

   

Amortization

   

Net

 

Intellectual Property

  $ 319,600     $ (29,297

)

  $ 290,303  

License & Customer Relations

    990,000       (45,375

)

    944,625  

Tradenames - Trademarks

    301,000       (27,592

)

    273,408  

Non-compete Agreements

    27,000       (12,378

)

    14,622  

Domain Names 

    3,963       (1,834

)

    2,129  

Total

  $ 1,641,563     $ (116,476

)

  $ 1,525,087  

May 31, 2018

         

Accumulated

         
   

Gross

   

Amortization

   

Net

 

Intellectual Property

  $ -     $ -     $ -  

License & Customer Relations

    -       -       -  

Tradenames - Trademarks

    -       -       -  

Non-compete Agreements

    -       -       -  

Domain names

    2,300       (1,402

)

    898  

Total

  $ 2,300     $ (1,402

)

  $ 898  
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
Total amortization expense charged to operations for the years ended May 31, 2019 and 2018 was $115,074 and $432, respectively.

Amount to be amortized during the twelve months ended May 31, 

       

2020

  $ 125,600  

2021

    114,271  

2022

    111,560  

2023

    111,560  

2024

    111,560  

Thereafter

    950,536  
    $ 1,525,087