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Intangible Assets
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Aug. 31, 2012
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| Intangible Assets [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INTANGIBLE ASSETS |
NOTE 6 - INTANGIBLE ASSETS Intangible assets consist of owned trademarks and patents for ten product lines
Patents are amortized on a straight-line basis over their legal life of 17 years. Trademarks have an indefinite life and are reviewed annually for impairment or more frequently if impairment indicators occur. Amortization expense for the three months ended August 31, 2012 and August 31, 2011 amounted to $116 and $116, respectively. Amortization expense for the nine months ended August 31, 2012 and August 31, 2011 amounted to $347 and $345, respectively. Estimated amortization expense for the years ending November 30, 2012, 2013, 2014, 2015 and 2016 will be $463, $463, $439, $421 and $421, respectively. |
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