Intellectual Property, net

9 Months Ended

May 31, 2024

Intellectual Property, net

Intellectual Property, net

6. Intellectual Property, net

A continuity schedule for capitalized patents is presented below:

	May 31,			August 31,
	2024			2023
Balance – beginning	$	462,625		$	488,462
Addition		119,018			135,862
Impairment		(57,836	)		(106,761	)
Amortization		(24,929	)		(54,938	)
Balance – ending	$	498,878		$	462,625

The Company evaluated its patent portfolio and determined that certain pending applications had been abandoned or will not be pursued. As such, during the nine-months ended May 31, 2024, the Company recognized an impairment loss of $57,836 related to those abandoned applications.  The Company recognized $24,929 of amortization expense related to patents and licenses in the nine-months ended May 31, 2024.