Intangible Assets, Net

6 Months Ended

Aug. 02, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS, NET

NOTE 3 – INTANGIBLE ASSETS, NET

A summary of intangible assets follows:

		August 2, 2020
	Estimated Life	Gross Carrying Amount		Accumulated Amortization			Net carrying amount
Patents	10 Years	$	2,174,116	$	(921,751	)	$	1,252,365
Trademarks	3 Years		1,128,621		(839,232	)		289,389
Other intangibles	5 Years		839,737		(839,737	)		-
Total		$	4,142,474	$	(2,600,720	)	$	1,541,754

		February 2, 2020
	Estimated Life	Gross Carrying Amount		Accumulated Amortization			Net carrying amount
Patents	10 Years	$	1,965,794	$	(846,898	)	$	1,118,896
Trademarks	3 Years		982,800		(749,535	)		233,265
Other intangibles	5 Years		839,737		(839,737	)		-
Total		$	3,788,331	$	(2,436,170	)	$	1,352,161

Amortization expense associated with intangible assets subject to amortization is included in depreciation and amortization expense on the accompanying condensed consolidated statements of operations. Amortization expense on other intangible assets was $86,179 and $74,087 and $164,550 and $123,670 for the thirteen and twenty-six weeks ended August 2, 2020 and August 4, 2019, respectively.

As of August 2, 2020, estimated future amortization expense associated with intangible assets subject to amortization is as follows:

Remainder of Fiscal 2021	$	173,713
2022		283,003
2023		206,309
2024		165,050
2025		153,749
2026		151,083
Thereafter		408,847
	$	1,541,754