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INTANGIBLE ASSETS
 9 Months Ended 12 Months Ended
May 31, 2025
Aug. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
INTANGIBLE ASSETS

NOTE 8 – INTANGIBLE ASSETS

 

The below table summarizes the identifiable intangible assets as of May 31, 2025, and August 31, 2024:

 

   May 31, 2025   August 31, 2024 
         
Technology 1-Portable Air Cooler  $27,438,763   $27,438,763 
Technology 2-Condensing Unit   55,709,004    55,709,004 
Finite- lived intangible assets, gross   83,147,767    83,147,767 
Less: Technology-related intangible asset impairment   (20,580,040)   (20,580,040)
Adjusted carrying amount   62,567,727    62,567,727 
Less: Accumulated amortization   (13,793,626)   (11,086,369)
Intangible assets, net  $48,774,101   $51,481,358 

 

Amortization expenses for intangible assets for the nine months ended May 31, 2025, and 2024 were $2,707,257 and $3,118,041 respectively.

 

 

NOTE 8 – INTANGIBLE ASSETS

 

The below table summarizes the identifiable intangible assets as of August 31, 2024, and August 31, 2023:

 

   August 31, 2024   August 31, 2023 
         
Technology 1-Portable Air Cooler  $27,438,763   $27,438,763 
Technology 2-Condensing Unit   55,709,004    55,709,004 
Finite- lived intangible assets, gross   83,147,767    83,147,767 
Less: Accumulated amortization   (11,086,369)   (6,928,981)
Less: Technology-related intangible asset impairment   (20,580,040)   - 
Intangible assets, net  $51,481,358   $76,218,786 

 

Amortization expenses for intangible assets for the years ended August 31, 2024, and 2023, were both $4,157,388.

 

During the year ended August 31, 2024, the Company recognized $20,580,040 impairment on the above intangible assets.