Intangible Assets

6 Months Ended

Oct. 31, 2022

Note K – Intangible Assets

Intangible assets subject to amortization are summarized as of October 31, 2022 and April 30, 2022, as follows:


	October 31,2022						April 30, 2022
	Gross				Net			Gross				Net
	Carrying		Accumulated		Carrying			Carrying		Accumulated		Carrying
	Amount		Amortization		Amount			Amount		Amortization		Amount

Spitfire:
Non-contractual customer relationship		4,690,000		(3,209,713)		1,480,287			4,690,000		(3,039,837)		1,650,163
Wagz:
Trade name		1,230,000		(51,250)		1,178,750			1,230,000		(20,500)		1,209,500
Patents		9,730,000		(450,463)		9,279,537			9,730,000		(180,185)		9,549,815
Total	$	15,650,000	$	(3,711,426)	$	11,938,574		$	15,650,000	$	(3,240,522)	$	12,409,478

Estimated aggregate amortization expense for the Company’s intangible assets, which become fully amortized in 2040, for the remaining periods as of October 31, 2022, are as follows:


For the remaining 6 months of the fiscal year ending April 30:	2023	$	470,280
For the fiscal years ending April 30:	2024		933,898
	2025		926,758
	2026		919,751
	2027		912,956
	Thereafter		7,774,931
		$	11,938,574

Amortization expense was $235,142 and $86,488 for the three month periods ended October 31, 2022 and October 31, 2021, respectively. Amortization expense was $470,904 and $173,610 for the six month periods ended October 31, 2022 and October 31, 2021, respectively.