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Intangible Assets
 12 Months Ended
May 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

Note 6 – Intangible Assets

 

Intangible assets consisted of the following: 

 

             
   Estimated Life  May 31, 2025   May 31, 2024 
Licensing rights  3 years  $22,080   $34,024 
Customer relationships  3 years   70,000    70,000 
Trade names  10 years   275,000    275,000 
Website  5 years   100,000    100,000 
Product certification testing  3 years   180,815    - 
Less: Accumulated amortization      (244,304)   (169,920)
Intangible assets, net     $403,591   $309,104 

 

Amortization expense amounted to $86,327 and $95,649 for the fiscal years ended May 31, 2025 and 2024, respectively.

 

Goodwill was $2,152,215 as of May 31, 2025 and 2024.

 

Intellectual Property

 

As of May 31, 2025, the Company held three active U.S. patents and one pending U.S. patent application relating to its core technologies. These patents expire at various times between 2035 and 2038. The Company also owns seven federally registered trademarks in the United States, which it considers to be of material importance to its business. All trademark registrations are currently in good standing and are renewed as required.

 

The Company historically has not capitalized costs associated with internally developed patents or trademarks, as they did not meet the criteria for capitalization under U.S. GAAP. As such, no intangible assets related to intellectual property has been recorded on the accompanying consolidated balance sheets.