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 August 31, 2020 and November 30, 2019:

Amortization expense of intangibles was approximately $17,000 and $19,000 for the three months ended August 31, 2020 and August 31, 2019, respectively.  Amortization expense of intangibles was approximately $51,000 and $73,000 for the nine months ended August 31, 2020 and August 31, 2019, respectively.