XML 30 R15.htm IDEA: XBRL DOCUMENT v3.22.2.2
Note 8 - Intangible Asset, Net
 12 Months Ended
Aug. 31, 2022
Customer Relationships and Assembled Workforce [Member]  
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]

8.         INTANGIBLE ASSET, NET

 

Intangible asset, net consisted of the following:

 

  

August 31, 2022

  

August 31, 2021

 

Customer relationships

 $6,347,000  $— 

Less accumulated amortization

  (423,133)  — 

Net Carrying Amount

 $5,923,867  $— 

 

The customer relationships were established as a part of purchase accounting related to our Zerust India acquisition. See Note 3 entitled “Business Combination.” The Company amortizes the intangible asset related to the customer relationships using the straight-line method over the estimated useful lives of the asset, which is 15 years. Total amortization expense was $423,133 for the year ended August 31, 2022. Amortization expense is estimated to be $423,000 in each of the next five fiscal years.