Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.20.1
Intangible Assets
 3 Months Ended
Feb. 29, 2020
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 February 29, 2020 and November 30, 2019:
 
     Useful lives     
February 29, 2020
     
November 30, 2019
  
Patents and Domain Names
     
10-20 years
      $ 234,570      $ 234,570  
Less: Accumulated amortization
         (38,431 )       (35,526 ) 
License agreement
      10 years        470,000        470,000  
Less: Intangible asset impairment
         (185,000 )       (185,000 ) 
Less: Accumulated amortization
         (161,007 )       (155,194 ) 
Customer relationships-PrepaCyte
®
CB
      15 years        41,000        41,000  
Less: Intangible asset impairment
         (26,267 )       (26,267 ) 
Less: Accumulated amortization
         (6,527 )       (6,329 ) 
Brand
         31,000        31,000  
Less: Accumulated amortization
         (31,000 )       (31,000 ) 
Customer relationships – Cord:Use
         960,000        960,000  
Less: Accumulated amortization
         (56,000 )       (48,000 ) 
     
 
 
     
 
 
  
Net Intangible Assets
       $ 1,232,338      $ 1,249,254  
     
 
 
     
 
 
  
 
Amortization expense of intangibles was approximately $17,000 and $27,000 for the three months ended February 29, 2020 and February 28, 2019, respectively.