| Goodwill and Intangible Assets Disclosure [Text Block] |
Note 11 – Intangible Assets
Intangible assets consisted of the following at November 30, 2020 and May 31, 2020:
| |
|
|
|
|
|
Accumulated
|
|
|
|
|
|
|
November 30, 2020
|
|
Gross
|
|
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Amortization
|
|
|
Net
|
|
|
Intellectual Property
|
|
$ |
319,600 |
|
|
$ |
(77,237 |
)
|
|
$ |
242.363 |
|
|
License & Customer Relations
|
|
|
990,000 |
|
|
|
(119,625 |
)
|
|
|
870,375 |
|
|
Tradenames - Trademarks
|
|
|
301,000 |
|
|
|
(72,742 |
)
|
|
|
228,258 |
|
|
Non-Compete Agreements
|
|
|
27,000 |
|
|
|
(27,000 |
)
|
|
|
- |
|
|
Domain Names
|
|
|
26,512 |
|
|
|
(4,887 |
)
|
|
|
21,625 |
|
|
Total
|
|
$ |
1,664,112 |
|
|
$ |
(301,491 |
)
|
|
$ |
1,362,621 |
|
| |
|
|
|
|
|
Accumulated
|
|
|
|
|
|
|
May 31, 2020
|
|
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
|
|
|
26,512 |
|
|
|
(3,302 |
)
|
|
|
23,310 |
|
|
Total
|
|
$ |
1,664,112 |
|
|
$ |
(242,908 |
)
|
|
$ |
1,421,204 |
|
Total amortization expense charged to operations for the three months ended November 30, 2020 and 2019 was $28,715 and $28,030, respectively. Total amortization expense charged to operations for the six months ended November 30, 2020 and 2019 was $58,583 and $58,304, respectively.
|
Amount to be amortized during the twelve months ended November 30,
|
|
|
|
|
|
2021
|
|
$ |
111,989 |
|
|
2022
|
|
|
111,989 |
|
|
2023
|
|
|
111,989 |
|
|
2024
|
|
|
111,989 |
|
|
2025
|
|
|
111,989 |
|
|
Thereafter
|
|
|
802,676 |
|
| |
|
$ |
1,362,621 |
|
|