| Intangible Assets |
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 February 28, 2025 and November 30, 2024:
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Useful lives |
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February 28, 2025 |
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November 30, 2024 |
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Patents |
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10-20 years |
|
$ |
697,744 |
|
|
$ |
697,744 |
|
Less: Intangible asset impairment |
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|
|
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(377,810 |
) |
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|
(377,810 |
) |
Less: Accumulated amortization |
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|
|
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(174,964 |
) |
|
|
(172,058 |
) |
License agreement |
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10 years |
|
|
474,000 |
|
|
|
474,000 |
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Less: Intangible asset impairment |
|
|
|
|
(185,000 |
) |
|
|
(185,000 |
) |
Less: Accumulated amortization |
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|
|
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(277,918 |
) |
|
|
(272,055 |
) |
Customer relationships – PrepaCyte®CB |
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15 years |
|
|
41,000 |
|
|
|
41,000 |
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Less: Intangible asset impairment |
|
|
|
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(26,267 |
) |
|
|
(26,267 |
) |
Less: Accumulated amortization |
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|
|
|
(10,498 |
) |
|
|
(10,300 |
) |
Brand |
|
1 year |
|
|
31,000 |
|
|
|
31,000 |
|
Less: Accumulated amortization |
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|
|
|
(31,000 |
) |
|
|
(31,000 |
) |
Customer relationships – Cord:Use |
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30 years |
|
|
960,000 |
|
|
|
960,000 |
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Less: Accumulated amortization |
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|
|
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(216,000 |
) |
|
|
(208,000 |
) |
Net Intangible Assets |
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|
|
$ |
904,287 |
|
|
$ |
921,254 |
|
Amortization expense of intangibles was approximately $17,000 and $17,000 for the three months ended February 28, 2025 and February 29, 2024, respectively.
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