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Intellectual Property net

3 Months Ended

Nov. 30, 2024

Intellectual Property net

Intellectual Property, net

 7. Intellectual Property, net

A continuity schedule for capitalized patents is presented below:

		November 30,				August 31,
		2024				2024
Balance – beginning		$	516,676			$	462,625
Addition			13,159				145,591
Impairment			-				(57,836	)
Amortization			(24,462	)			(33,704	)
Balance – ending		$	505,373			$	516,676

The Company evaluated its patent portfolio to determine whether certain pending applications had been abandoned or will not be pursued. During the three-months ended November 30, 2024, the Company did not recognize an impairment loss related to those applications.  The Company recognized $24,462 of amortization expense related to patents and licenses in the three months ended November 30, 2024 as compared to $8,274 for the three months ended November 30, 2023.

The following table summarizes expected future amortization of the Company’s patent portfolio as of November 30, 2024:

Years Ending December 31,
2025		$	25,269
2026		$	25,269
2027		$	25,269
2028		$	25,269
2029		$	25,269
Thereafter		$	379,028
Total		$	505,373

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Name Accounting Standards Codification
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-Paragraph 3
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-Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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