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Intangible Assets | 6 Months Ended
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May 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | Note 4 – 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. During the quarter ended August 31, 2016, the Company determined that there were sufficient indicators to trigger an interim goodwill impairment analysis (Note 2). The Company reviews intangible assets with finite lives for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Determining whether an impairment loss occurred requires a comparison of the carrying amount to the sum of the future forecasted undiscounted cash flows expected to be generated by the asset per ASC 360, Property, Plant and Equipment. As a result of the Company’s two-step impairment analysis, an impairment of intangible assets within the PrepaCyte® CB reporting segment, license agreement and customer relationships, existed and an intangible asset impairment charge of $211,267 during the third quarter of fiscal 2016. Intangible assets were as follows as of May 31, 2017 and November 30, 2016:
|  | Useful lives |  |  | May 31, 2017 |  |  | November 30, 2016 |
Patents |  |  | 10-20 years |  |  | $ | 34,570 |  |  | $ | 34,570 |
Less: Accumulated amortization |  |  |  |  |  |  | (10,869 | ) |  |  | (9,937 | )
License agreement |  |  | 10 years |  |  |  | 470,000 |  |  |  | 470,000 |
Less: Intangible asset impairment |  |  |  |  |  |  | (185,000 | ) |  |  | (185,000 | )
Less: Accumulated amortization |  |  |  |  |  |  | (76,028 | ) |  |  | (60,194 | )
Customer relationships |  |  | 15 years |  |  |  | 41,000 |  |  |  | 41,000 |
Less: Intangible asset impairment |  |  |  |  |  |  | (26,267 | ) |  |  | (26,267 | )
Less: Accumulated amortization |  |  |  |  |  |  | (3,697 | ) |  |  | (3,172 | )
Net Intangible Assets |  |  |  |  |  | $ | 243,709 |  |  | $ | 261,000 |
Amortization expense of intangibles was approximately $9,000 and $13,000 for the three months ended May 31, 2017 and May 31, 2016, respectively. Amortization expense of intangibles was approximately 17,000 and $25,000 for the six months ended May 31, 2017 and May 31, 2016, 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=66006027&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=66006027&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=66006027&loc=d3e16373-109275 + Details
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