Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

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Intangible Assets
 3 Months Ended
Feb. 28, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

Note 5 – 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.

Intangible assets were as follows as of February 28, 2019 and November 30, 2018:

 

     Useful lives    February 28, 2019      November 30, 2018  

Patents and Domain Names

    10-20 years    $ 234,570      $ 234,570  

Less: Accumulated amortization

         (26,628 )       (23,663 ) 

License agreement

    10 years      470,000        470,000  

Less: Intangible asset impairment

         (185,000 )       (185,000 ) 

Less: Accumulated amortization

         (131,444 )       (123,528 ) 

Customer relationships-Prepacyte®CB

    15 years      41,000        41,000  

Less: Intangible asset impairment

         (26,267 )       (26,267 ) 

Less: Accumulated amortization

         (5,540 )       (5,276 ) 
     

 

 

     

 

 

  

Brand

      31,000        31,000  

Less: Accumulated amortization

      (23,250 )       (15,500 ) 
  

 

 

     

Customer relationships – Cord:Use

      960,000        960,000  

Less: Accumulated amortization

      (24,000 )       (16,000 ) 
  

 

 

     

 

 

  

Net Intangible Assets

    $ 1,314,441      $ 1,341,336  
     

 

 

     

 

 

  

 

Amortization expense of intangibles was approximately $27,000 and $11,000 for the three months ended February 28, 2019 and February 28, 2018, respectively.