Intangible Assets |
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| Intangible Assets | Note 4 – Intangible Assets
Intangible assets relate to the website and API software, which were developed for the Company by a third party, under a Full-Stack Development Agreement dated June 23, 2023, at a total cost of $173,800. The components were placed in service in stages between September 2023 and September 2024, and each component is amortized on a straight-line basis over an estimated useful life of five years from the date it was placed in service. As of August 31, 2026, the amount of intangible assets is $173,800 consisting of website and API. Amortization expense for the year ended August 31, 2026 was $34,760. Accumulated amortization as of August 31, 2026 was $94,378. Amortization expense is included in cost of revenue in the statements of operations.
As of August 31, 2026, estimated future amortization expense for intangible assets is $34,760 for each of the fiscal years ending August 31, 2027 and 2028, $9,902 for the fiscal year ending August 31, 2029.
F-12
Intangible assets amounts are as follows:
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