Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.19.3.a.u2
Intangible Assets (Tables)
6 Months Ended
Nov. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets [Table Text Block]
Intangible assets consisted of the following at November 30, 2019 and May 31, 2019:

           

Accumulated

         

November 30, 2019

 

Gross

   

Amortization

   

Net

 

Intellectual Property

  $ 319,600     $ (45,277

)

  $ 274,323  

License & Customer Relations

    990,000       (70,125

)

    919,875  

Tradenames - Trademarks

    301,000       (42,642

)

    258,358  

Non-compete Agreements

    27,000       (14,622

)

    12,378  

Domain Names 

    3,963       (2,127

)

    1,836  

Total

  $ 1,641,563     $ (174,793

)

  $ 1,466,770  
           

Accumulated

         

May 31, 2019

 

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  
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
Total amortization expense charged to operations for the three months ended November 30, 2019 and 2018 was $28,030 and $31,413, respectively. Total amortization expense charged to operations for the six months ended November 30, 2019 and 2018 was $58,304 and $52,364, respectively.

Amount to be amortized during the twelve months ended November 30, 

       

2020

  $ 164,156  

2021

    164,156  

2022

    164,208  

2023

    164,208  

2024

    162,786  

Thereafter

    647,256  
    $ 1,466,770