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Intangible Assets | 12 Months Ended
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Nov. 30, 2024
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, 2024 and 2023:
|  | Useful lives |  | November 30, 2024 |  |  | November 30, 2023 |
Patents |  | 10-20 years |  | $ | 697,744 |  |  | $ | 697,744 |
Less: Intangible asset impairment |  |  |  |  | (377,810 | ) |  |  | (377,810 | )
Less: Accumulated amortization |  |  |  |  | (172,058 | ) |  |  | (160,434 | )
License agreement |  | 10 years |  |  | 474,000 |  |  |  | 474,000 |
Less: Intangible asset impairment |  |  |  |  | (185,000 | ) |  |  | (185,000 | )
Less: Accumulated amortization |  |  |  |  | (272,055 | ) |  |  | (248,607 | )
Customer relationships – PrepaCyte®CB |  | 15 years |  |  | 41,000 |  |  |  | 41,000 |
Less: Intangible asset impairment |  |  |  |  | (26,267 | ) |  |  | (26,267 | )
Less: Accumulated amortization |  |  |  |  | (10,300 | ) |  |  | (9,505 | )
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 |  |  |  |  | (208,000 | ) |  |  | (176,000 | )
Net Intangible Assets |  |  |  | $ | 921,254 |  |  | $ | 989,121 |
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: |  |  |
2025 |  | $ | 58,180 |
2026 |  | $ | 44,618 |
2027 |  | $ | 44,618 |
2028 |  | $ | 44,618 |
2029 |  | $ | 44,435 |
Thereafter |  | $ | 684,785 |
Total |  | $ | 921,254 |
Amortization expense of intangibles was approximately $68,000 and $96,000 for the twelve months ended November 30, 2024 and November 30, 2023, respectively. As of the twelve months ended November 30, 2024 and November 30, 2023, the Company recorded an impairment of $0 and $377,810, respectively, related to the patents associated with the Duke assets which is reflected as impairment of Duke assets on the accompanying consolidated statements of operations.

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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/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-4 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481283/985-20-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/985-20/tableOfContent + Details
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