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Note 5 - Intangible Assets, Net
 12 Months Ended
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