| INTANGIBLE ASSETS
Intangible assets consist of owned trademarks and patents for ten product lines.
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May 31,
2018 |
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November 30,
2017 |
Patents and trademarks |
|
$ |
583,327 |
|
|
$ |
578,937 |
|
Less: Accumulated amortization |
|
146,522 |
|
|
146,617 |
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Intangible Assets - Net |
|
$ |
436,805 |
|
|
$ |
432,320 |
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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 May 31Three Months Ended May 31,, 2018 and 2017 amounted to $97 and $97, respectively. Amortization expense for the six months ended May 31, 2018 and May 31, 2017 amounted to $194 and $194 , respectively. Estimated amortization expenses for the years ending November 30, 2019, 2020, 2021, 2022 and 2023 are $388, $243, $243, $243 and $0, respectively.
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