Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

Intangible Assets

9 Months Ended

Aug. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets consist of owned trademarks and patents for eleven product lines.



	August 31, 2014		November 30, 2013
Patents and trademarks	$	932,896	$	932,896
Less: Accumulated amortization	186,032		170,703
Intangible Assets - Net	$	746,864	$	762,193

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, 2014 and August 31, 2013 amounted to $5,110 and $5,116, respectively. Amortization expense for the nine months ended August 31, 2014 and 2013, was $15,329 and $15,347, respectively. Estimated amortization expenses for the years ending November 30, 2014, 2015, 2016, 2017 and 2018 are $20,439, $20,421, $20,421, $20,421 and $421, respectively.