Quarterly report pursuant to Section 13 or 15(d)

Note 11 - Intangible Assets (Tables)

v3.19.3
Note 11 - Intangible Assets (Tables)
3 Months Ended
Aug. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Finite-Lived Intangible Assets [Table Text Block]
Intangible assets consisted of the following at August 31, 2019 and May 31, 2019:

           

Accumulated

         

August 31, 2019

 

Gross

   

Amortization

   

Net

 

Intellectual Property

  $ 319,600     $ (37,287

)

  $ 282,313  

License & Customer Relations

    990,000       (57,750

)

    932,250  

Tradenames - Trademarks

    301,000       (35,117

)

    265,883  

Non-compete Agreements

    27,000       (15,754

)

    11,246  

Domain Names 

    3,963       (2,681

)

    1,282  

Total

  $ 1,641,563     $ (148,589

)

  $ 1,492,974  
           

Accumulated

         

May 31, 2019

 

Gross

   

Amortization

   

Net

 

Intellectual Property

  $ 319,600     $ (29,297

)

  $ 290,303  

License & Customer Relations

    990,000       (45,375

)

    944,624  

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 August 31, 2019 and 2018 was $32,113 and $20,952, respectively.

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

       

2020

  $ 164,156  

2021

    164,156  

2022

    164,156  

2023

    163,854  

2024

    161,506  

Thereafter

    675,146  
    $ 1,492,974