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Intangible Assets | 12 Months Ended
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Nov. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | Note 5– Intangible Assets The Company incurs certain legal and related costs in connection with patent and trademark applications. If a future economic benefit is anticipated from the resulting patent or trademark or an alternate future use is available to the Company, such costs are capitalized and amortized over the expected life of the patent or trademark. The Company’s assessment of future economic benefit involves considerable management judgment. A different conclusion could result in the reduction of the carrying value of these assets. Due to tests performed during the second quarter of fiscal 2014, management decided to discontinue pursuing certain patents and trademarks related to the Company’s menstrual stem cell technology resulting in a write-off of approximately $26,000 for abandoned patents and trademarks which is reflected as abandonment of patents in the accompanying consolidated statements of comprehensive income and is included in the umbilical cord blood and cord tissue stem cell service reporting segment. The impact to future operations is insignificant and it will not impact the Company’s core operations. Intangible assets were as follows as of November 30, 2015 and 2014:
|  | Useful lives |  | November 30, 2015 |  |  | November 30, 2014 |
Patents |  | 10-20 years |  | $ | 34,570 |  |  | $ | 34,570 |
Less: Accumulated amortization |  |  |  |  | (8,075 | ) |  |  | (6,212 | )
License agreement |  | 10 years |  |  | 470,000 |  |  |  | — |
Less: Accumulated amortization |  |  |  |  | (17,917 | ) |  |  | — |
Customer relationships |  | 15 years |  |  | 41,000 |  |  |  | — |
Less: Accumulated amortization |  |  |  |  | (3,250 | ) |  |  | — |
Net Intangible Assets |  | $ | 516,328 |  |  | $ | 28,358 |
Expected amortization related to these intangible assets for each of the next five fiscal years and for periods thereafter is as follows:
Years ending November 30: |  |  |  |
2016 |  |  | 52,663 |
2017 |  |  | 52,663 |
2018 |  |  | 52,663 |
2019 |  |  | 52,663 |
2020 |  |  | 52,663 |
Thereafter |  |  | 253,013 |
Total |  | $ | 516,328 |
Amortization expense of intangibles was $23,000 and $28,000 for the twelve months ended November 30, 2015 and November 30, 2014, respectively.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16373-109275 + Details
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