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Intangible Assets, Net

9 Months Ended

Nov. 01, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 3 – INTANGIBLE ASSETS, NET

A summary of intangible assets follows:

		November 1, 2020
	Estimated Life		Gross Carrying Amount		Accumulated Amortization			Net carrying amount
Patents	10 Years	$	2,265,157	$	(1,083,303	)	$	1,181,854
Trademarks	3 Years		1,180,316		(942,643	)		237,673
Other intangibles	5 Years		839,737		(839,737	)		-
Total		$	4,285,210	$	(2,865,683	)	$	1,419,527

		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 $264,963 and $67,665 and $429,513 and $191,335 for the thirteen and thirty-nine weeks ended November 1, 2020 and November 3, 2019, respectively.

As of November 1, 2020, estimated future amortization expense associated with intangible assets subject to amortization is as follows:

Remainder of Fiscal 2021	$	73,676
2022		247,358
2023		199,067
2024		163,860
2025		145,107
2026		143,647
Thereafter		446,812
	$	1,419,527