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Note 4 - Intangible Assets

3 Months Ended

Aug. 31, 2023

Intangible Assets Disclosure [Text Block]

Note 4. Intangible Assets

Intangible assets consisted of the following items:

	*August 31,*			*May 31,*
	*2023*			*2023*
Customer relationships & distribution channel	$	618,672		$	614,062
Licenses, permits & applications		369,479			366,793
Non-compete agreements		12,432			12,394
Intellectual property, trademarks, knowhow & brands		592,545			583,468
		1,593,128		$	1,576,717
Less: accumulated amortization		(209,716	)	$	(187,088	)
Less: impairments		(415,844	)		(415,844	)
Total	$	967,568		$	973,785

As of August 31, 2023, included in licenses, permits & applications is $183,660 of indefinite-lived intangible assets. As of May 31, 2023, there was $181,093 of indefinite-lived intangible assets included in Licenses, permits & applications.

Expected future amortization expense for intangible assets as of August 31, 2023 are as follows:

	*Amortization*
2024 (remaining nine months)	$	55,895
2025		73,414
2026		73,414
2027		73,414
2028		73,414
Thereafter		434,357
Total	$	783,908