Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.19.2
Intangible Assets
 6 Months Ended
May 31, 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 May 31, 2019 and November 30, 2018:
 
 
 
Useful lives
 
 
May 31, 2019
 
 
November 30, 2018
 
Patents and Domain Names
 
 
10-20 years
 
 
$
234,570
 
 
$
234,570
 
Less: Accumulated amortization
 
 
 
 
 
 
(29,594
)
 
 
(23,663
)
License agreement
 
 
10 years
 
 
 
470,000
 
 
 
470,000
 
Less: Intangible asset impairment
 
 
 
 
 
 
(185,000
)
 
 
(185,000
)
Less: Accumulated amortization
 
 
 
 
 
 
(139,361
)
 
 
(123,528
)
Customer relationships-Prepacyte
®
CB
 
 
15 years
 
 
 
41,000
 
 
 
41,000
 
Less: Intangible asset impairment
 
 
 
 
 
 
(26,267
)
 
 
(26,267
)
Less: Accumulated amortization
 
 
 
 
 
 
(5,803
)
 
 
(5,276
)
Brand
 
 
 
31,000
 
 
 
31,000
 
Less: Accumulated amortization
 
 
 
(31,000
)
 
 
(15,500
)
Customer relationships – Cord:Use
 
 
 
960,000
 
 
 
960,000
 
Less: Accumulated amortization
 
 
 
(32,000
)
 
 
(16,000
)
Net Intangible Assets
 
 
$
1,287,545
 
 
$
1,341,336
 
 
 
 
 
 
 
Amortization expense of intangibles was approximately $27,000 and $11,000 for the three months ended May 31, 2019 and May 31, 2018, respectively. Amortization expense of intangibles was approximately $54,000 and $22,000 for the six months ended May 31, 2019 and May 31, 2018, respectively.