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Note 5 - Patents and Trademarks, Net | 12 Months Ended
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Aug. 31, 2020
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] | 5. PATENTS AND TRADEMARKS, NET Patents and trademarks, net consisted of the following:
|  | August 31, 2020 |  | August 31, 2019
Patents and trademarks |  | $ | 2,907,852 |  |  | $ | 2,938,876 |
Less accumulated amortization |  |  | (2,105,846 | ) |  |  | (1,929,907 | )
|  | $ | 802,006 |  |  | $ | 1,008,969 |
Patent and trademark costs are amortized over seven years. Costs incurred related to patents and trademarks are capitalized until filed and approved, at which time the amounts capitalized to date are amortized, and any further costs, including maintenance costs, are expensed as incurred. Amortization expense was $231,624 and $261,724 for the years ended August 31, 2020 and 2019, respectively. Amortization expense is estimated to be $200,000 in each of the next four fiscal years.

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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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