XML 25 R9.htm IDEA: XBRL DOCUMENT v3.20.1
Intangible Assets, Net
3 Months Ended
May 03, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS, NET

NOTE 3 - INTANGIBLE ASSETS, NET


A summary of intangible assets follows:


      May 3, 2020 
   Estimated
Life
  Gross Carrying Amount   Accumulated Amortization   Net carrying amount 
Patents   10 Years  $2,108,750   $(883,469)  $1,225,281 
Trademarks   3 Years   1,045,400    (791,335)   254,065 
Other intangibles   5 Years   839,737    (839,737)   - 
Total     $3,993,887   $(2,514,541)  $1,479,346 

      February 2, 2020 
   Estimated
Life
  Gross Carrying Amount   Accumulated Amortization   Net carrying amount 
Patents  10 Years  $1,965,794   $(846,898)  $1,118,896 
Trademarks  3 Years   982,800    (749,535)   233,265 
Other intangibles  5 Years   839,737    (839,737)   - 
Total     $3,788,331   $(2,436,170)  $1,352,161 

Amortization expense associated with intangible assets subject to amortization is included in depreciation and amortization expense on the accompanying condensed consolidated statements of operations. Amortization expense on other intangible assets was $78,371 and $49,582 for the thirteen weeks ended May 3, 2020 and May 5, 2019 respectively.


As of May 3, 2020, estimated future amortization expense associated with intangible assets subject to amortization is as follows:


Remainder of Fiscal 2021  $236,744 
2022   277,249 
2023   172,032 
2024   149,277 
2025   147,213 
2026   144,546 
Thereafter   352,285 
   $1,479,346