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Note 5 - Intangible Assets, Net | 9 Months Ended
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May 31, 2024
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] | 5. INTANGIBLE ASSETS, NET Intangible assets, net consisted of the following:
|  | As of May 31, 2024 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Patents and trademarks |  | $ | 3,425,645 |  |  | $ | (2,806,590 | ) |  | $ | 619,055 |
Customer relationships |  |  | 6,347,000 |  |  |  | (1,163,617 | ) |  |  | 5,183,383 |
Total intangible assets, net |  | $ | 9,772,645 |  |  | $ | (3,970,207 | ) |  | $ | 5,802,438 |
|  | 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 $147,749 and $442,975 for the three and nine months ended May 31, 2024, respectively, compared $146,730 and $441,603 for the three and nine months ended May 31, 2023, respectively. As of May 31, 2024, future amortization expense related to intangible assets for each of the next five fiscal years and thereafter is estimated as follows:
Remainder of fiscal 2024 | $ | 285,905
Fiscal 2025 |  | 543,721
Fiscal 2026 |  | 517,990
Fiscal 2027 |  | 492,221
Fiscal 2028 |  | 479,012
Thereafter |  | 3,483,589
Total | $ | 5,802,438

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