Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.3.0.814
Intangible Assets (Tables)
9 Months Ended
Aug. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

The impact to future operations is insignificant and it will not impact the Company’s core operations.

 

     Useful lives      August 31, 2015      November 30, 2014  

Patents

     10-20 years       $ 34,570       $ 34,570   

License agreement

     10 years         430,000         —     

Customer relationships

     15 years         117,000         —     
     

 

 

    

 

 

 

Less: Accumulated amortization

        (16,076      (6,212
     

 

 

    

 

 

 

Net Intangible Assets

      $ 565,494       $ 28,358   
     

 

 

    

 

 

 

 

Schedule of Expected Amortization Expenses

Expected amortization related to these intangible assets for each of the fiscal years ending November 30, 2015 through 2019 and for periods thereafter is as follows:

 

Period from September 1, 2015 through November 30, 2015

   $ 13,166   

Years ending November 30:

  

2016

     52,663   

2017

     52,663   

2018

     52,663   

2019

     52,663   

2020

     52,663   

Thereafter

     289,013   
  

 

 

 

Total

   $ 565,494