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Note 5 - Intangible Asset, Net | 12 Months Ended
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Aug. 31, 2023
Customer Relationships and Assembled Workforce [Member] |
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] |
5. | INTANGIBLE ASSETS, NET
Intangible assets, net consisted of the following:
|  | As of August 31, 2023 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Patents and trademarks |  | $ | 3,339,717 |  |  | $ | (2,680,965 | ) |  | $ | 658,752 |
Customer relationships |  |  | 6,347,000 |  |  |  | (846,267 | ) |  |  | 5,500,733 |
Total intangible assets, net |  | $ | 9,686,717 |  |  | $ | (3,527,232 | ) |  | $ | 6,159,485 |
|  | As of August 31, 2022 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Patents and trademarks |  | $ | 3,225,655 |  |  | $ | (2,515,644 | ) |  | $ | 710,011 |
Customer relationships |  |  | 6,347,000 |  |  |  | (423,133 | ) |  |  | 5,923,867 |
Total intangible assets, net |  | $ | 9,572,655 |  |  | $ | (2,938,777 | ) |  | $ | 6,633,878 |
Amortization expense related to intangible assets was $558,454 for fiscal 2023 compared to $629,843 for fiscal 2022. As of August 31, 2023, future amortization expense related to intangible assets for each of the next five fiscal years and thereafter is estimated as follows:
Fiscal 2024 |  | $ | 642,951 |
Fiscal 2025 |  |  | 543,721 |
Fiscal 2026 |  |  | 517,990 |
Fiscal 2027 |  |  | 492,221 |
Fiscal 2028 |  |  | 479,012 |
Thereafter |  |  | 3,483,589 |
Total |  | $ | 6,159,485 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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