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Note 8 - Intangible Assets, Net

3 Months Ended

Nov. 30, 2021

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 as of November 30, 2021:

		Gross Carrying Amount				Accumulated Amortization				Net Carrying Amount
Customer relationships		$	6,347,000			$	(68,000	)		$	6,279,000

The customer relationships was 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 $68,000 for the three months ended November 30, 2021. Amortization expense is estimated to be $423,000 in each of the next five fiscal years.

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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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