| Goodwill and Intangible Assets Disclosure [Text Block] |
NOTE 11 – INTANGIBLE ASSETS
Intangible assets consisted of the following at May 31, 2019 and 2018:
|
May 31, 2019
|
|
|
|
|
|
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 |
|
|
May 31, 2018
|
|
|
|
|
|
Accumulated
|
|
|
|
|
|
| |
|
Gross
|
|
|
Amortization
|
|
|
Net
|
|
|
Intellectual Property
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
License & Customer Relations
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
Tradenames - Trademarks
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
Non-compete Agreements
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
Domain names
|
|
|
2,300 |
|
|
|
(1,402 |
)
|
|
|
898 |
|
|
Total
|
|
$ |
2,300 |
|
|
$ |
(1,402 |
)
|
|
$ |
898 |
|
Total amortization expense charged to operations for the years ended May 31, 2019 and 2018 was $115,074 and $432, respectively.
|
Amount to be amortized during the twelve months ended May 31,
|
|
|
|
|
|
2020
|
|
$ |
125,600 |
|
|
2021
|
|
|
114,271 |
|
|
2022
|
|
|
111,560 |
|
|
2023
|
|
|
111,560 |
|
|
2024
|
|
|
111,560 |
|
|
Thereafter
|
|
|
950,536 |
|
| |
|
$ |
1,525,087 |
|
|