| Goodwill and Intangible Assets Disclosure [Text Block] |
NOTE 11 – INTANGIBLE ASSETS
Intangible assets consisted of the following at May 31, 2023 and 2022:
| |
|
May 31, 2023
|
|
| |
|
|
|
|
|
Accumulated
|
|
|
|
|
|
|
|
|
|
| |
|
Gross
|
|
|
Amortization
|
|
|
Impairment
|
|
|
Net
|
|
|
Intellectual Property
|
|
$ |
319,600 |
|
|
$ |
(157,137 |
)
|
|
$ |
(162,463 |
) |
|
$ |
- |
|
|
License & Customer Relations
|
|
|
990,000 |
|
|
|
(243,375 |
)
|
|
|
(663,667 |
) |
|
|
82,958 |
|
|
Tradenames - Trademarks
|
|
|
301,000 |
|
|
|
(147,992 |
)
|
|
|
(40,158 |
) |
|
|
112,850 |
|
|
Non-compete Agreements
|
|
|
27,000 |
|
|
|
(27,000 |
)
|
|
|
- |
|
|
|
- |
|
|
Domain Names
|
|
|
25,993 |
|
|
|
(12,713 |
)
|
|
|
- |
|
|
|
13,280 |
|
|
Total
|
|
$ |
1,663,593 |
|
|
$ |
(588,217 |
)
|
|
$ |
(866,288 |
) |
|
$ |
209,088 |
|
| |
|
May 31, 2022
|
|
| |
|
|
|
|
|
Accumulated
|
|
|
|
|
|
|
|
|
|
| |
|
Gross
|
|
|
Amortization
|
|
|
Impairment
|
|
|
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 years ended May 31, 2023 and 2022 was $114,909 and $114,905, respectively. During the year ended May 31, 2023, the Company recorded an impairment charge in the amount of $866,288 in connection with intangible assets acquired in the Company’s purchase of the membership interests of Alternative Solutions on June 27, 2018.
|
Amount to be amortized during the twelve months ended May 31,
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|
| |
|
|
|
|
|
2024
|
|
$ |
31,036 |
|
|
2025
|
|
|
31,036 |
|
|
2026
|
|
|
31,036 |
|
|
2027
|
|
|
30,972 |
|
|
2028
|
|
|
27,700 |
|
|
Thereafter
|
|
|
57,308 |
|
| |
|
$ |
209,088 |
|
|