Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.5.0.2
Intangible Assets
 6 Months Ended
May 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS INTANGIBLE ASSETS
Intangible assets consist of owned trademarks and patents for ten product lines.
 
 
May 31,
2016
 
November 30,
2015
Patents and trademarks
 
$
580,007

 
$
580,007

Less: Accumulated amortization
 
146,035

 
145,841

Intangible Assets - Net
 
$
433,972

 
$
434,166



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 31, 2016 and 2015 amounted to $97 and $97, respectively. Amortization expense for the six months ended May 31, 2016 and May 31, 2015 amounted to $194 and $194 , respectively. Estimated amortization expenses for the years ending November 30, 2016, 2017, 2018, 2019 and 2020 are $388, $388, $388, $376 and $376, respectively.