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, 2016 and November 30, 2015:

Amortization expense of intangibles was approximately $13,000 and $500 for the three months ended May 31, 2016 and May 31, 2015, respectively. Amortization expense of intangibles was approximately $25,000 and $900 for the six months ended May 31, 2016 and May 31, 2015, respectively.