Note 5 - Intangible Assets, Net

9 Months Ended

May 31, 2023

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

5. INTANGIBLE ASSETS, NET

Intangible assets, net consisted of the following:

	As of May 31, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents and trademarks	$	3,315,005	$	(2,639,897	)	$	675,108
Customer relationships		6,347,000		(740,483	)		5,606,517
Total intangible assets, net	$	9,662,005	$	(3,380,380	)	$	6,281,625

	As of August 31, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents and trademarks	$	3,225,655	$	(2,515,644	)	$	710,011
Customer relationships		6,347,000		(423,133	)		5,923,867
Total intangible assets, net	$	9,572,655	$	(2,938,777	)	$	6,633,878

Amortization expense related to intangible assets was $146,730 and $441,603 for the three and nine months ended May 31, 2023, respectively, compared to $158,490 and $474,121 for the three and nine months ended May 31, 2022, respectively.

As of May 31, 2023, future amortization expense related to intangible assets for each of the next five fiscal years and thereafter is estimated as follows:

Remainder of fiscal 2023	$	167,471
Fiscal 2024		589,746
Fiscal 2025		589,746
Fiscal 2026		589,746
Fiscal 2027		589,746
Thereafter		3,755,170
Total	$	6,281,625