Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.8.0.1
Intangible Assets
9 Months Ended
Aug. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS
INTANGIBLE ASSETS
Intangible assets consist of owned trademarks and patents for ten product lines.
 
 
August 31,
2017
 
November 30,
2016
Patents and trademarks
 
$
580,007

 
$
580,007

Less: Accumulated amortization
 
146,520

 
146,229

Intangible Assets - Net
 
$
433,487

 
$
433,778



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, 2017 and 2016 amounted to $97 and $97, respectively. Amortization expense for the nine months ended August 31, 2017 and August 31, 2016 amounted to $291 and $291 , respectively. Estimated amortization expenses for the years ending November 30, 2017, 2018, 2019, 2020 and 2021 are $388, $388, $388, $243 and $243, respectively.