Quarterly report [Sections 13 or 15(d)]

Intangible Assets

v3.25.1
Intangible Assets
 9 Months Ended
Feb. 28, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Disclosure [Text Block]

Note 8: Intangible Assets

 

Intangible assets consisted of the following at February 28, 2025 and May 31, 2024:

 

    February 28, 2025  
          Accumulated              
    Gross     Amortization     Impairment     Net  
License & Customer Relations   $ 110,000     $ (110,000 )           -       -  
Tradenames - Trademarks     222,000       (222,000 )     -       -  
Domain Names     25,993       (18,492 )     -       7,501  
Total   $ 357,993     $ (350,492 )     -     $ 7,501  

 

    May 31, 2024  
          Accumulated              
    Gross     Amortization     Impairment     Net  
License & Customer Relations     110,000       (110,000 )            -       -  
Tradenames - Trademarks     222,000       (222,000 )     -       -  
Domain Names     25,993       (16,015 )     -       9,978  
Total   $ 357,993     $ (348,015 )   $ -     $ 9,978  

 

Total amortization expense charged to operations for the three months ended February 28, 2025 and 2024 was $826 and $7,750, respectively. Total amortization expense charged to operations for the nine months ended February 28, 2025 and 2024 was $2,477 and $15,501, respectively.

   

Remaining amortization expense for intangible assets as of February 28, 2025 is as follows:

 

2025   $ 2,478  
2026     3,304  
2027     1,719  
    $ 7,501