XML 29 R14.htm IDEA: XBRL DOCUMENT

Intangible assets

12 Months Ended

May 31, 2022

Intangible Assets Net Excluding Goodwill [Abstract]

8.	Intangible assets

Intangible assets are comprised of the following items

	May 31, 2022			May 31, 2021
Customer relationships & distribution channel	$	617,437		$	239,810
Licenses, permits & applications		377,897			430,270
Non-compete agreements		12,512			12,453
Intellectual property, trademarks, knowhow & brands		634,997			990,917
	$	1,642,843		$	1,673,450
Less: accumulated amortization		(154,124	)		(52,192	)
Less: impairments		(210,844	)		(15,340	)
Total	$	1,277,875		$	1,605,918

During the year ended May 31, 2022, as a result of delays in product registrations in Latin America and changes in market opportunities, causing a shift in our strategic priorities, management recorded a non-cash impairment of $110,033 of licences, permits and applications and $85,471 of intellectual property, trademarks, knowhow & brands,

representing all of the intangible asset values related to those entities, and discounted cash flows (refer to Note 10 Goodwill for further details). Included in Licenses, permits & applications is $248,411 of indefinite-lived intangible assets (2021 - $412,000).

Estimated amortization expense for each of the five succeeding fiscal years and thereafter is as follows:

	Amortization
2023	$	67,591
2024		60,947
2025		59,912
2026		59,912
2027		59,912
Thereafter		611,190
Total	$	919,464