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Note 5 - Intangible Assets, Net | 6 Months Ended
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Feb. 28, 2023
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] |
5. | INTANGIBLE ASSETS, NET
Intangible assets, net consisted of the following:
|  | As of February 28, 2023 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Patents and trademarks |  | $ | 3,295,678 |  |  | $ | (2,598,950 | ) |  | $ | 696,728 |
Customer relationships |  |  | 6,347,000 |  |  |  | (634,700 | ) |  |  | 5,712,300 |
Total intangible assets, net |  | $ | 9,642,678 |  |  | $ | (3,233,650 | ) |  | $ | 6,409,028 |
|  | 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 $147,062 and $294,873 for the three and six months ended February 28, 2023, respectively, compared to $195,737 and $315,631 for the three and six months ended February 28, 2022, respectively. As of February 28, 2023, future amortization expense related to intangible assets for each of the next five fiscal years and thereafter is estimated as follows:
Remainder of fiscal 2023 |  | $ | 294,873 |
Fiscal 2024 |  |  | 589,746 |
Fiscal 2025 |  |  | 589,746 |
Fiscal 2026 |  |  | 589,746 |
Fiscal 2027 |  |  | 589,746 |
Thereafter |  |  | 3,755,171 |
Total |  | $ | 6,409,028 |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=2144471 + Details
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