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Note 5 - Patents and Trademarks, Net

12 Months Ended

Aug. 31, 2021

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

5.         PATENTS AND TRADEMARKS, NET

Patents and trademarks, net consisted of the following:

		August 31, 2021				August 31, 2020
Patents and trademarks		$	3,018,507			$	2,907,852
Less accumulated amortization			(2,308,935	)			(2,105,846	)
		$	709,572			$	802,006

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 $203,088 and $231,624 for the years ended August 31, 2021 and 2020, respectively. Amortization expense is estimated to be $190,000 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

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