Note 8 - Intangible Asset, Net |
9 Months Ended | ||||||||||||||||||||||||||||||||||||
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May 31, 2022 | |||||||||||||||||||||||||||||||||||||
| Customer Relationships and Assembled Workforce [Member] | |||||||||||||||||||||||||||||||||||||
| Notes to Financial Statements | |||||||||||||||||||||||||||||||||||||
| Intangible Assets Disclosure [Text Block] |
8. INTANGIBLE ASSET, NET
Intangible asset, net consisted of the following as of May 31, 2022:
The customer relationships were established as a part of purchase accounting related to our Zerust India acquisition. See Note 3 entitled “Business Combination.” The Company amortizes the intangible asset related to the customer relationships using the straight-line method over the estimated useful lives of the asset, which is 15 years. Total amortization expense was $105,783 and $317,350 for the three and nine months ended May 31, 2022, respectively. Amortization expense is estimated to be $423,000 in each of the next five fiscal years. |
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