| Goodwill and Intangible Assets Disclosure [Text Block] |
Note 10 – Intangible Assets
Intangible assets consisted of the following at August 31, 2022 and May 31, 2022:
| |
|
August 31, 2022
|
|
| |
|
Gross
|
|
|
Accumulated
Amortization
|
|
|
Net
|
|
|
Intellectual Property
|
|
$ |
319,600 |
|
|
$ |
(133,167 |
)
|
|
$ |
186,433 |
|
|
License & Customer Relations
|
|
|
990,000 |
|
|
|
(206,250 |
)
|
|
|
783,750 |
|
|
Tradenames - Trademarks
|
|
|
301,000 |
|
|
|
(125,417 |
)
|
|
|
178,583 |
|
|
Non-Compete Agreements
|
|
|
27,000 |
|
|
|
(27,000 |
)
|
|
|
- |
|
|
Domain Names
|
|
|
25,993 |
|
|
|
(10,219 |
)
|
|
|
15,774 |
|
|
Total
|
|
$ |
1,663,593 |
|
|
$ |
(502,053 |
)
|
|
$ |
1,161,540 |
|
| |
|
May 31, 2022
|
|
| |
|
|
|
|
|
Accumulated
|
|
|
|
|
|
| |
|
Gross
|
|
|
Amortization
|
|
|
Net
|
|
|
Intellectual Property
|
|
$ |
319,600 |
|
|
$ |
(125,177 |
)
|
|
$ |
194,423 |
|
|
License & Customer Relations
|
|
|
990,000 |
|
|
|
(193,875 |
)
|
|
|
796,125 |
|
|
Tradenames - Trademarks
|
|
|
301,000 |
|
|
|
(117,892 |
)
|
|
|
183,108 |
|
|
Non-compete Agreements
|
|
|
27,000 |
|
|
|
(27,000 |
)
|
|
|
- |
|
|
Domain Names
|
|
|
25,993 |
|
|
|
(9,364 |
)
|
|
|
16,629 |
|
|
Total
|
|
$ |
1,663,593 |
|
|
$ |
(473,308 |
)
|
|
$ |
1,190,285 |
|
Total amortization expense charged to operations for the three months ended August 31, 2022 and May 31, 2022 was $28,745 and $29,434, respectively.
| Amount to be amortized during the twelve months ended August 31, |
|
|
|
|
|
2023
|
|
$ |
114,896 |
|
|
2024
|
|
|
114,896 |
|
|
2025
|
|
|
114,896 |
|
|
2026
|
|
|
114,896 |
|
|
2027
|
|
|
113,990 |
|
|
Thereafter
|
|
|
587,966 |
|
| |
|
$ |
1,161,540 |
|
|