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Intangible assets | 12 Months Ended
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May 31, 2021
Intangible Assets Net Excluding Goodwill [Abstract] |
Intangible assets |
9. | Intangible assets
Intangible assets are comprised of the following items:
|  | Customer relationships & distribution channel |  |  | Licenses, permits & applications |  |  | Non- compete agreements |  |  | Intellectual property, trademarks, know how & brands |  |  | Total intangible assets |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At May 31, 2019 |  | $ | 23,957 |  |  | $ | 200,102 |  |  | $ | 2,415 |  |  | $ | 72,122 |  |  | $ | 298,596 |
Additions |  |  | 84 |  |  |  | 2,158 |  |  |  | — |  |  |  | 3,608 |  |  | $ | 5,850 |
Impairment |  |  | — |  |  |  | (14,445 | ) |  |  | — |  |  |  | — |  |  | $ | (14,445 | )
Effect of foreign exchange |  |  | (269 | ) |  |  | 393 |  |  |  | (10 | ) |  |  | (1,918 | ) |  | $ | (1,804 | )
At May 31, 2020 |  |  | 23,772 |  |  |  | 188,208 |  |  |  | 2,405 |  |  |  | 73,812 |  |  | $ | 288,197 |
Business acquisition |  |  | 214,000 |  |  |  | 202,716 |  |  |  | 10,000 |  |  |  | 912,080 |  |  | $ | 1,338,796 |
Effect of foreign exchange |  |  | 2,038 |  |  |  | 24,006 |  |  |  | 48 |  |  |  | 5,025 |  |  | $ | 31,117 |
At May 31, 2021 |  | $ | 239,810 |  |  | $ | 414,930 |  |  | $ | 12,453 |  |  | $ | 990,917 |  |  | $ | 1,658,110 |
Accumulated amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At May 31, 2019 |  | $ | 4,354 |  |  | $ | 623 |  |  | $ | 1,081 |  |  | $ | 8,172 |  |  | $ | 14,230 |
Amortization |  |  | 4,506 |  |  |  | 131 |  |  |  | 1,006 |  |  |  | 5,006 |  |  | $ | 10,649 |
At May 31, 2020 |  |  | 8,860 |  |  |  | 754 |  |  |  | 2,087 |  |  |  | 13,178 |  |  | $ | 24,879 |
Amortization |  |  | 9,442 |  |  |  | 413 |  |  |  | 2,212 |  |  |  | 15,246 |  |  | $ | 27,313 |
At May 31, 2021 |  | $ | 18,302 |  |  | $ | 1,167 |  |  | $ | 4,299 |  |  | $ | 28,424 |  |  | $ | 52,192 |
Net book value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At May 31, 2019 |  | $ | 19,603 |  |  | $ | 199,479 |  |  | $ | 1,334 |  |  | $ | 63,950 |  |  | $ | 284,366 |
At May 31, 2020 |  | $ | 14,912 |  |  | $ | 187,454 |  |  | $ | 318 |  |  | $ | 60,634 |  |  | $ | 263,318 |
At May 31, 2021 |  | $ | 221,508 |  |  | $ | 413,763 |  |  | $ | 8,154 |  |  | $ | 962,493 |  |  | $ | 1,605,918 |
Included in Licences, permits & applications is $412,000 of indefinite-lived intangible assets (2020 - $186,000). Estimated amortization expense for each of the five succeeding fiscal years and thereafter is as follows:
|  | Years ending May 31, |
2022 |  | $ | 72,172 |
2023 |  |  | 68,409 |
2024 |  |  | 65,946 |
2025 |  |  | 65,533 |
2026 |  |  | 65,533 |
Thereafter |  |  | 855,801 |
|  | $ | 1,193,394 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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- References No definition available. + Details
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