Note 5 - Intangible Assets, Net

6 Months Ended

Feb. 28, 2023

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

5. INTANGIBLE ASSETS, NET

Intangible assets, net consisted of the following:

	As of February 28, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Patents and trademarks	$	3,295,678	$	(2,598,950	)	$	696,728
Customer relationships		6,347,000		(634,700	)		5,712,300
Total intangible assets, net	$	9,642,678	$	(3,233,650	)	$	6,409,028

	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 $147,062 and $294,873 for the three and six months ended February 28, 2023, respectively, compared to $195,737 and $315,631 for the three and six months ended February 28, 2022, respectively.

As of February 28, 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	$	294,873
Fiscal 2024		589,746
Fiscal 2025		589,746
Fiscal 2026		589,746
Fiscal 2027		589,746
Thereafter		3,755,171
Total	$	6,409,028