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Intangible Assets, net
 12 Months Ended
Feb. 28, 2025
Intangible Assets, net  
Intangible Assets, net

7. Intangible Assets, net

 

 

 

As at February 28,

 

 

As at February 29,

 

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

Patents, at cost – beginning of year

 

$1,996

 

 

$1,514

 

Additions in the year – patents

 

 

450

 

 

 

482

 

Patents, at cost – end of year

 

 

2,446

 

 

 

1,996

 

 

 

 

 

 

 

 

 

 

Patents, accumulated depreciation – beginning of year

 

 

(379)

 

 

(231)

Amortization of patents

 

 

(202)

 

 

(148)

Patents, accumulated depreciation – end of year

 

 

(581)

 

 

(379)

 

 

 

 

 

 

 

 

 

Foreign exchange effect

 

 

(157)

 

 

(69)

Patents, net – end of year

 

$1,708

 

 

$1,548

 

 

On April 9, 2019, the first U.S. patent was issued for the Infinite Loop™ technology. During the year ending February 28, 2025, the Company continued to develop the Infinite Loop™ technology and filed various patents in jurisdictions around the world.

The Infinite Loop™ technology portfolio currently consists of four patent families for which the Company has 10 issued U.S. patents and four pending U.S. applications. Internationally, the Company also has issued or allowed patents in various foreign jurisdictions. All patents and patent applications, if granted are expected to expire between 2038 and 2044, not including any patent term extension.

 

Amortization expense amounted to $202 for the year ended February 28, 2025 (2024 - $148).