Cryo-Cell International, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Intangible Assets

Intangible Assets

12 Months Ended

Nov. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Note 4– 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 November 30, 2019 and 2018:


	Useful lives	November 30, 2019			November 30, 2018
Patents	10-20 years	$	234,570		$	234,570
Less: Accumulated amortization			(35,526	)		(23,663	)
License agreement	10 years		470,000			470,000
Less: Intangible asset impairment			(185,000	)		(185,000	)
Less: Accumulated amortization			(155,194	)		(123,528	)
Customer relationships – Prepacyte ® CB	15 years		41,000			41,000
Less: Intangible asset impairment			(26,267	)		(26,267	)
Less: Accumulated amortization			(6,329	)		(5,276	)
Brand	1 year		31,000			31,000
Less: Accumulated amortization			(31,000	)		(15,500	)
Customer relationships – Cord:Use	30 years		960,000			960,000
Less: Accumulated amortization			(48,000	)		(16,000	)

Net Intangible Assets		$	1,249,254		$	1,341,336

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:


2020	$	67,667
2021	$	67,667
2022	$	67,667
2023	$	67,667
2024	$	67,667
Thereafter	$	910,919

Total	$	1,249,254

Amortization expense of intangibles was approximately $92,000 and $76,000 for the twelve months ended November 30, 2019 and November 30, 2018, respectively.