XML 22 R12.htm IDEA: XBRL DOCUMENT v3.23.3
Intangible Assets
 3 Months Ended
Aug. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

Note 6 – Intangible Assets

 

The Company acquired intangible assets through the Business Combination. (See Note 13). These intangible assets consisted of the following:

           
   Estimated Life  August 31,
2023		   May 31,
2023		 
Licensing rights  3 years  $11,945   $11,945 
Customer Relationships  3 years   70,000    70,000 
Trade Names  10 years   275,000    275,000 
Website  5 years   100,000    100,000 
Less: Accumulated Amortization      (93,646)   (74,271)
Total Intangible Assets, net     $363,299   $382,674 

 

Goodwill arising through the business combination was $2,152,215 at August 31, 2023 (see Note 13).

 

Amortization expense amounted to $19,375 and $16,146 for the three months ended August 31, 2023 and 2022, respectively.