Annual report pursuant to Section 13 and 15(d)

Intangible Assets

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Intangible Assets
12 Months Ended
Nov. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS INTANGIBLE ASSETS
Intangible assets consist of owned trademarks and patents for ten product lines.
 
 
November 30,
2018
 
November 30,
2017
Patents and trademarks
 
$
583,327

 
$
578,937

Less: Accumulated amortization
 
146,753

 
146,617

Intangible Assets - Net
 
$
436,574

 
$
432,320



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. During the fiscal years ended November 30, 2018 and 2017, the Company wrote off $0 and $1,070, respectively, of patents and trademarks, as part of its annual evaluation of patents and trademarks that were no longer in use and did not have any plans for future use. Amortization expense for the fiscal years ended November 30, 2018 and 2017 was $425 and $388, respectively. Estimated amortization expense for the years ending November 30, 2019, 2020, 2021, 2022 and 2023 are $376, $243, $243, $243 and $243, respectively.