Intangible Assets

12 Months Ended

Dec. 30, 2024

Intangible Assets

Intangible Assets

Note 5 - Intangible Assets

The Company’s intangible assets consist of patents, mainly acquired in the acquisition of Belgian Volition. The patents are being amortized over the assets’ estimated useful lives, which range from 8 to 20 years.

					December 31, 2024
			Accumulated		Net Carrying
	Cost		Amortization		Value
	$		$		$
Patents		1,354,274		1,040,527		313,747
					December 31, 2023
			Accumulated		Net Carrying
	Cost		Amortization		Value
		$		$		$
Patents		1,130,936		1,107,050		23,886

During the years ended December 31, 2024 and December 31, 2023, the Company recognized $nil and $84,910, respectively, in amortization expense.

The Company amortizes the long-lived assets on a straight-line basis with terms ranging from 8 to 20 years. The annual estimated amortization schedule over the next five years is as follows:

2025	$	20,748
2026	$	20,748
2027	$	20,748
2028	$	20,748
2029	$	20,748
Greater than 5 years	$	210,007
Total Intangible Assets	$	313,747

The Company periodically reviews its long-lived assets to ensure that their carrying value does not exceed their fair market value. The Company carried out such a review in accordance with ASC 360 as of December 31, 2024. The result of this review confirmed that the ongoing value of the patents was not impaired as of December 31, 2024.