| Goodwill and Intangible Assets Disclosure [Text Block] |
Note 10 – Intangible Assets
Intangible assets consisted of the following at November 30, 2021 and May 31, 2021:
| | | November 30, 2021 | | | | | Gross | | | Accumulated Amortization | | | Net | | | Intellectual Property | | $ | 319,600 | | | $ | (109,197 | ) | | $ | 210,403 | | | License & Customer Relations | | | 990,000 | | | | (169,125 | ) | | | 820,875 | | | Tradenames - Trademarks | | | 301,000 | | | | (102,842 | ) | | | 198,158 | | | Non-Compete Agreements | | | 27,000 | | | | (27,000 | ) | | | - | | | Domain Names | | | 25,993 | | | | (8,388 | ) | | | 17,605 | | | Total | | $ | 1,663,593 | | | $ | (416,552 | ) | | $ | 1,247,041 | |
| | | May 31, 2021 | | | | | Gross | | | Accumulated Amortization | | | Net | | | Intellectual Property | | $ | 319,600 | | | $ | (93,217 | ) | | $ | 226,383 | | | License & Customer Relations | | | 990,000 | | | | (144,375 | ) | | | 845,625 | | | Tradenames - Trademarks | | | 301,000 | | | | (87,792 | ) | | | 213,208 | | | Non-Compete Agreements | | | 27,000 | | | | (27,000 | ) | | | - | | | Domain Names | | | 25,993 | | | | (6,019 | ) | | | 19,974 | | | Total | | $ | 1,663,593 | | | $ | (358,403 | ) | | $ | 1,305,190 | |
Total amortization expense charged to operations for the three months ended November 30, 2021 and 2020 was $28,715 and $28,715, respectively. Total amortization expense charged to operations for the six months ended November 30, 2021 and 2020 was $58,149 and $58,583, respectively.
|
Amount to be amortized during the twelve months ended November 30,
|
|
|
|
|
|
2022
|
|
$
|
111,989 |
|
|
2023
|
|
|
111,989 |
|
|
2024
|
|
|
111,989 |
|
|
2025
|
|
|
111,989 |
|
|
2026
|
|
|
111,989 |
|
|
Thereafter
|
|
|
687,096 |
|
|
|
|
$
|
1,247,041 |
|
|
NOTE 11 – INTANGIBLE ASSETS
Intangible assets consisted of the following at May 31, 2021 and 2020:
|
|
|
May 31, 2021
|
|
|
|
|
|
|
|
|
Accumulated
|
|
|
|
|
|
|
|
|
Gross
|
|
|
Amortization
|
|
|
Net
|
|
|
Intellectual Property
|
|
$
|
319,600 |
|
|
$
|
(93,217 |
)
|
|
$
|
226,383 |
|
|
License & Customer Relations
|
|
|
990,000 |
|
|
|
(144,375 |
)
|
|
|
845,625 |
|
|
Tradenames - Trademarks
|
|
|
301,000 |
|
|
|
(87,792 |
)
|
|
|
213,208 |
|
|
Non-compete Agreements
|
|
|
27,000 |
|
|
|
(27,000 |
)
|
|
|
- |
|
|
Domain Names
|
|
|
25,993 |
|
|
|
(6,019 |
)
|
|
|
19,974 |
|
|
Total
|
|
$
|
1,663,593 |
|
|
$
|
(358,403 |
)
|
|
$
|
1,305,190 |
|
|
|
|
May 31, 2020
|
|
|
|
|
|
|
|
|
Accumulated
|
|
|
|
|
|
|
|
|
Gross
|
|
|
Amortization
|
|
|
Net
|
|
|
Intellectual Property
|
|
$
|
319,600 |
|
|
$
|
(61,257 |
)
|
|
$
|
258,343 |
|
|
License & Customer Relations
|
|
|
990,000 |
|
|
|
(94,875 |
)
|
|
|
895,125 |
|
|
Tradenames - Trademarks
|
|
|
301,000 |
|
|
|
(57,692 |
)
|
|
|
243,308 |
|
|
Non-compete Agreements
|
|
|
27,000 |
|
|
|
(25,882 |
)
|
|
|
1,118 |
|
|
Domain Names
|
|
|
25,993 |
|
|
|
(2,683 |
)
|
|
|
23,310 |
|
|
Total
|
|
$
|
1,663,593 |
|
|
$
|
(242,389 |
)
|
|
$
|
1,421,204 |
|
Total amortization expense charged to operations for the years ended May 31, 2021 and 2020 was $116,014 and $125,913, respectively.
|
Amount to be amortized during the twelve months ended May 31,
|
|
|
|
|
|
|
|
|
2022
|
|
$
|
111,989 |
|
|
2023
|
|
|
111,989 |
|
|
2024
|
|
|
111,989 |
|
|
2025
|
|
|
111,989 |
|
|
2026
|
|
|
111,989 |
|
|
Thereafter
|
|
|
745,245 |
|
|
|
|
$
|
1,305,190 |
|
|