Note 9 - Intangible Assets

12 Months Ended

May. 31, 2015

Notes

Note 9 - Intangible Assets

NOTE 9 – INTANGIBLE ASSETS

Intangible assets as of the balance sheet dates are summarized as follows:

	2015	2014
At cost:
Operating concession	$592,934	$438,670
Customer base	80,593	81,450
IT license and software	2,281,786	2,276,992
	2,955,313	2,797,112
Less: Accumulated depreciation	(1,178,142)	(857,499)
Intangible assets, net	$1,777,171	$1,939,613

Amortization expense attributable to continuing operations for the years ended May 31, 2015 and 2014 amounted to $321,033 and $137,452, respectively. Amortization expense attributable to discontinued operations for the years ended May 31, 2014 and 2013 amounted to $nil and $nil, respectively.