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Note 5 - Intangible Assets, Net | 12 Months Ended
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Aug. 31, 2024
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] |
5. | INTANGIBLE ASSETS, NET
Intangible assets, net consisted of the following:
|  | As of August 31, 2024 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Patents and trademarks |  | $ | 3,459,877 |  |  | $ | (2,854,532 | ) |  | $ | 605,345 |
Customer relationships |  |  | 6,347,000 |  |  |  | (1,269,400 | ) |  |  | 5,077,600 |
Total intangible assets, net |  | $ | 9,806,877 |  |  | $ | (4,123,932 | ) |  | $ | 5,682,945 |
|  | 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 |
Amortization expense related to intangible assets was $596,700 for fiscal 2024 compared to $588,454 for fiscal 2023. As of August 31, 2024, future amortization expense related to intangible assets for each of the next five fiscal years and thereafter is estimated as follows:
Fiscal 2025 |  | $ | 606,911 |
Fiscal 2026 |  |  | 485,814 |
Fiscal 2027 |  |  | 450,739 |
Fiscal 2028 |  |  | 450,739 |
Fiscal 2029 |  |  | 450,739 |
Thereafter |  |  | 3,238,003 |
Total |  | $ | 5,682,945 |

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