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Intellectual Property net
 6 Months Ended
Feb. 28, 2025
Intellectual Property net  
Intellectual Property, net

 7. Intellectual Property, net

 

A continuity schedule for capitalized patents is presented below:

 

 

 

February 28,

 

 

August 31,

 

 

 

2025

 

 

2024

 

Balance – beginning

 

$516,676

 

 

$462,625

 

Additions

 

 

41,052

 

 

 

145,591

 

Impairment

 

 

(33,540)

 

 

(57,836 )

Amortization

 

 

(18,008)

 

 

(33,704 )

Balance – ending

 

$506,180

 

 

$516,676

 

 

The Company evaluated its patent portfolio to determine whether certain pending applications had been abandoned or will not be pursued. During the six months ended February 28, 2025, the Company recognized an impairment loss of $33,540 related to those abandoned applications.  The Company recognized $18,008 of amortization expense related to patents and licenses in the six months ended February 28, 2025.

 

The following table summarizes expected future amortization of the Company’s patent portfolio as of February 28, 2025:

 

Fiscal Years Ending August 31,

 

 

 

2025

 

$

25,309

 

2026

 

$

25,309

 

2027

 

$

25,309

 

2028

 

$

25,309

 

2029

 

$

25,309

 

Thereafter

 

$

379,635

 

Total

 

$

506,180