| Goodwill and Intangible Assets Disclosure [Text Block] |
Note 11 – Intangible Assets
Intangible assets consisted of the following at February 28, 2021 and May 31, 2020:
| |
|
|
|
|
|
Accumulated
|
|
|
|
|
|
|
February 28, 2021
|
|
Gross
|
|
|
Amortization
|
|
|
Net
|
|
|
Intellectual Property
|
|
$ |
319,600 |
|
|
$ |
(85,227 |
)
|
|
$ |
234,373 |
|
|
License & Customer Relations
|
|
|
990,000 |
|
|
|
(132,000 |
)
|
|
|
858,000 |
|
|
Tradenames - Trademarks
|
|
|
301,000 |
|
|
|
(80,267 |
)
|
|
|
220,733 |
|
|
Non-Compete Agreements
|
|
|
27,000 |
|
|
|
(27,000 |
)
|
|
|
- |
|
|
Domain Names
|
|
|
26,512 |
|
|
|
(5,713 |
)
|
|
|
20,799 |
|
|
Total
|
|
$ |
1,664,112 |
|
|
$ |
(330,207 |
)
|
|
$ |
1,333,905 |
|
| |
|
|
|
|
|
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 |
|
|
|
(3,202 |
)
|
|
|
23,310 |
|
|
Total
|
|
$ |
1,664,112 |
|
|
$ |
(242,908 |
)
|
|
$ |
1,421,204 |
|
Total amortization expense charged to operations for the three months ended February 28, 2021 and February 29, 2020 was $28,716 and $28,030, respectively. Total amortization expense charged to operations for the nine months ended February 28, 2021 and February 28, 2020 was $87,299 and $86,334, respectively.
|
Amount to be amortized during the twelve months ended February 28,
|
|
|
|
|
|
2022
|
|
$ |
111,989 |
|
|
2023
|
|
|
111,989 |
|
|
2024
|
|
|
111,989 |
|
|
2025
|
|
|
111,989 |
|
|
2026
|
|
|
111,989 |
|
|
Thereafter
|
|
|
773,960 |
|
| |
|
$ |
1,333,905 |
|
|