Intellectual Property, net
|12 Months Ended|
Aug. 31, 2023
|Intellectual Property, net|
9. Intellectual Property, net
The following is a list of capitalized US patents held by the Company.
A continuity schedule for capitalized patents is presented below:
At August 31, 2023 the Company has capitalized a total of $462,625 of patents. Included in the capitalized costs is $457,445 of costs associated with patents and licenses that have been filed. Also included in the capitalized costs is $5,180 of costs associated with provisional patents and pending applications which have not yet been filed.
The Company evaluated its patent portfolio and determined that certain pending applications had been abandoned or would not be pursued. As such, during the year ended August 31, 2023, the Company recognized an impairment loss of $106,761 (2022 - $Nil) related to those abandoned applications. The Company recognized $54,938 of amortization expense related to patents and licenses in the year ended August 31, 2023 (2022 - $7,609).
The entire disclosure for all or part of the information related to intangible assets.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef