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Note 5 - Intangible Assets, Net

3 Months Ended

Nov. 30, 2022

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

5.	INTANGIBLE ASSETS, NET

Intangible assets, net consisted of the following:

		As of November 30, 2022
		Gross Carrying Amount				Accumulated Amortization				Net Carrying Amount
Patents and trademarks		$	3,270,100			$	(2,557,670	)		$	712,430
Customer relationships			6,347,000				(528,918	)			5,818,082
Total intangible assets, net			9,617,100				(3,086,588	)			6,530,512

		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 $147,811 and $119,894 for the three months ended November 30, 2022 and 2021, respectively.

As of November 31, 2022, future amortization expense related to intangible assets for each of the next five years and thereafter was as follows:

Remainder of 2023		$	613,000
2024			613,000
2025			613,000
2026			613,000
2027			613,000
Thereafter			3,465,512
Total		$	6,530,512