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Note 5 - Intangible Assets, Net
 9 Months Ended
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