Note 5 - Finite-life Intangible Assets |
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| Intangible Asset [Text Block] |
The carrying value of patents and trademarks includes the original cost of obtaining the patents, periodic renewal fees, and other costs associated with maintaining and defending patent and trademark rights. Patents and trademarks are amortized over their estimated useful lives, generally 15 and 12 years, respectively. Accumulated amortization and impairment charges were $487,000 and $428,000 as of June 30, 2026, and 2025, respectively.
The Company assesses intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be fully recoverable. If impairment indicators are present, the Company performs a recoverability test by comparing the sum of the estimated undiscounted future cash flows attributable to these long-lived assets to their carrying value. In the fourth quarter of fiscal 2025, the Company determined that the current carrying value of several of its patents was not recoverable. An impairment charge of $212,000 was recorded during the year ended June 30, 2025. The impairment loss is included within selling, general, and administrative expenses within the Statement of Operations.
The activity and net balances of finite-life intangible assets are as follows:
Based on the carrying value as of June 30, 2026, future amortization is expected to be as follows:
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