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Intangible Assets | 12 Months Ended
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Nov. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract] |
Intangible Assets | NOTE 3 – INTAN GIBLE 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. Intangible assets were as follows as of November 30, 2021 and 2020:
|  | Useful lives |  | November 30, 2021 |  |  | November 30, 2020 |
Patents |  | 10-20 years |  | $ | 697,744 |  |  | $ | 234,570 |
Less: Accumulated amortization |  |  |  |  | (80,159 | ) |  |  | (47,150 | )
License agreement |  | 10 years |  |  | 474,000 |  |  |  | 470,000 |
Less: Intangible asset impairment |  |  |  |  | (185,000 | ) |  |  | (185,000 | )
Less: Accumulated amortization |  |  |  |  | (201,709 | ) |  |  | (178,443 | )
Customer relationships – PrepaCyte®CB |  | 15 years |  |  | 41,000 |  |  |  | 41,000 |
Less: Intangible asset impairment |  |  |  |  | (26,267 | ) |  |  | (26,267 | )
Less: Accumulated amortization |  |  |  |  | (7,916 | ) |  |  | (7,122 | )
Brand |  | 1 year |  |  | 31,000 |  |  |  | 31,000 |
Less: Accumulated amortization |  |  |  |  | (31,000 | ) |  |  | (31,000 | )
Customer relationships – Cord:Use |  | 30 years |  |  | 960,000 |  |  |  | 960,000 |
Less: Accumulated amortization |  |  |  |  | (112,000 | ) |  |  | (80,000 | )
Net Intangible Assets |  |  |  | $ | 1,559,693 |  |  | $ | 1,181,588 |
Expected amortization related to these intangible assets for each of the next five fiscal years and for periods thereafter is as follows:
Fiscal years ending November 30: |  |  |
2022 |  | $ | 96,381 |
2023 |  | $ | 96,381 |
2024 |  | $ | 96,381 |
2025 |  | $ | 86,694 |
2026 |  | $ | 73,132 |
Thereafter |  | $ | 1,110,724 |
Total |  | $ | 1,559,693 |
Amortization expense of intangibles was approximately $89,000 and $68,000 for the twelve months ended November 30, 2021 and November 30, 2020, respectively.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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