| 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
|
)
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|
$
|
242.363
|
|
|
License & Customer Relations
|
|
|
990,000
|
|
|
|
(119,625
|
)
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|
|
870,375
|
|
|
Tradenames - Trademarks
|
|
|
301,000
|
|
|
|
(72,742
|
)
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|
|
228,258
|
|
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Non-Compete Agreements
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|
|
27,000
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|
|
|
(27,000
|
)
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|
|
-
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|
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Domain Names
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|
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26,512
|
|
|
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(4,887
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)
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|
|
21,625
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|
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Total
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|
$
|
1,664,112
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|
|
$
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(301,491
|
)
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|
$
|
1,362,621
|
|
|
|
|
|
|
|
|
Accumulated
|
|
|
|
|
|
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May 31, 2020
|
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Gross
|
|
|
Amortization
|
|
|
Net
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|
|
Intellectual Property
|
|
$
|
319,600
|
|
|
$
|
(61,257
|
)
|
|
$
|
258,343
|
|
|
License & Customer Relations
|
|
|
990,000
|
|
|
|
(94,875
|
)
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|
|
895,125
|
|
|
Tradenames - Trademarks
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|
|
301,000
|
|
|
|
(57,692
|
)
|
|
|
243,308
|
|
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Non-Compete Agreements
|
|
|
27,000
|
|
|
|
(25,882
|
)
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|
|
1,118
|
|
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Domain names
|
|
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26,512
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|
|
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(3,302
|
)
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|
|
23,310
|
|
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Total
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|
$
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1,664,112
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|
|
$
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(242,908
|
)
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|
$
|
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,
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|
|
|
|
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2021
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|
$
|
111,989
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2022
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|
|
111,989
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|
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2023
|
|
|
111,989
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2024
|
|
|
111,989
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2025
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|
|
111,989
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|
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Thereafter
|
|
|
802,676
|
|
|
|
|
$
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1,362,621
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|
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NOTE 12 – INTANGIBLE ASSETS
Intangible assets consisted of the following at May 31, 2020 and 2019:
| |
|
May 31, 2020
|
|
| |
|
|
|
|
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Accumulated
|
|
|
|
|
|
| |
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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 |
|
|
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(2,683 |
)
|
|
|
23,310 |
|
|
Total
|
|
$ |
1,663,593 |
|
|
$ |
(242,389 |
)
|
|
$ |
1,421,204 |
|
| |
|
May 31, 2019
|
|
| |
|
|
|
|
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Accumulated
|
|
|
|
|
|
| |
|
Gross
|
|
|
Amortization
|
|
|
Net
|
|
|
Intellectual Property
|
|
$ |
319,600 |
|
|
$ |
(29,297 |
)
|
|
$ |
290,303 |
|
|
License & Customer Relations
|
|
|
990,000 |
|
|
|
(45,375 |
)
|
|
|
944,625 |
|
|
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 |
|
Total amortization expense charged to operations for the years ended May 31, 2020 and 2019 was $125,913 and $115,074, respectively.
|
Amount to be amortized during the twelve months ended May 31,
|
|
| |
|
|
|
|
|
2021
|
|
$ |
113,080 |
|
|
2022
|
|
|
111,962 |
|
|
2023
|
|
|
111,962 |
|
|
2024
|
|
|
111,962 |
|
|
2025
|
|
|
111,962 |
|
|
Thereafter
|
|
|
860,276 |
|
| |
|
$ |
1,421,204 |
|
|