v3.25.1
INTANGIBLES, NET
 9 Months Ended
Apr. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLES, NET

NOTE 2 - INTANGIBLES, NET

 

Intangibles, net consisted of the following at April 30, 2025 and July 31, 2024:

 

   As of April 30, 2025 
       Accumulated   Reserve for     
   Cost   Amortization   Impairment   Net 
                 
Software  $627,440   $(504,749)  $-   $122,691 
Patents   55,137    (9,127)   (8,825)   37,185 
Website   8,785    (8,785)   -    - 
Total intangibles  $691,362   $(522,661)  $(8,825)  $159,876 

 

   As of July 31, 2024 
       Accumulated   Reserve for     
   Cost   Amortization   Impairment   Net 
                 
Software  $627,440   $(209,147)  $-   $418,293 
Patents   165,411    (19,112)   (57,849)   88,450 
Website   8,785    (8,785)   -    - 
Total intangibles  $801,636   $(237,044)  $(57,849)  $506,743 

 

Amortization expense for the nine months ended April 30, 2025 and 2024 was $299,953 and $167,091 respectively.

 

Intangibles are amortized over their estimated useful lives of two (2) to twenty (20) years. As of April 30, 2025, the weighted average remaining useful life of intangibles being amortized was approximately 4 years and the software amortization was reduced to 2 years to align with the rapidly developing AI technology market. We now expect the remaining aggregate amortization expenses for each of the five succeeding years to be as follows:

 

      
2025  $122,691 
2026   1,378 
2027   1,378 
2028   1,378 
2029   1,378 
Thereafter   31,673 
Total expected amortization expense  $159,876