| Goodwill and Intangible Assets Disclosure [Text Block] |
Note 10 – Intangible Assets
Intangible assets consisted of the following at November 30, 2021 and May 31, 2021:
| |
|
November 30, 2021
|
|
| |
|
Gross
|
|
|
Accumulated
Amortization
|
|
|
Net
|
|
|
Intellectual Property
|
|
$ |
319,600 |
|
|
$ |
(109,197 |
)
|
|
$ |
210,403 |
|
|
License & Customer Relations
|
|
|
990,000 |
|
|
|
(169,125 |
)
|
|
|
820,875 |
|
|
Tradenames - Trademarks
|
|
|
301,000 |
|
|
|
(102,842 |
)
|
|
|
198,158 |
|
|
Non-Compete Agreements
|
|
|
27,000 |
|
|
|
(27,000 |
)
|
|
|
- |
|
|
Domain Names
|
|
|
25,993 |
|
|
|
(8,388 |
)
|
|
|
17,605 |
|
|
Total
|
|
$ |
1,663,593 |
|
|
$ |
(416,552 |
)
|
|
$ |
1,247,041 |
|
| |
|
May 31, 2021
|
|
| |
|
Gross
|
|
|
Accumulated
Amortization
|
|
|
Net
|
|
|
Intellectual Property
|
|
$ |
319,600 |
|
|
$ |
(93,217 |
)
|
|
$ |
226,383 |
|
|
License & Customer Relations
|
|
|
990,000 |
|
|
|
(144,375 |
)
|
|
|
845,625 |
|
|
Tradenames - Trademarks
|
|
|
301,000 |
|
|
|
(87,792 |
)
|
|
|
213,208 |
|
|
Non-Compete Agreements
|
|
|
27,000 |
|
|
|
(27,000 |
)
|
|
|
- |
|
|
Domain Names
|
|
|
25,993 |
|
|
|
(6,019 |
)
|
|
|
19,974 |
|
|
Total
|
|
$ |
1,663,593 |
|
|
$ |
(358,403 |
)
|
|
$ |
1,305,190 |
|
Total amortization expense charged to operations for the three months ended November 30, 2021 and 2020 was $28,715 and $28,715, respectively. Total amortization expense charged to operations for the six months ended November 30, 2021 and 2020 was $58,149 and $58,583, respectively.
|
Amount to be amortized during the twelve months ended November 30,
|
|
|
|
|
|
2022
|
|
$ |
111,989 |
|
|
2023
|
|
|
111,989 |
|
|
2024
|
|
|
111,989 |
|
|
2025
|
|
|
111,989 |
|
|
2026
|
|
|
111,989 |
|
|
Thereafter
|
|
|
687,096 |
|
| |
|
$ |
1,247,041 |
|
|