Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

v3.19.2
Intangible Assets, Net
 3 Months Ended
May 05, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS, NET

NOTE 3 – INTANGIBLE ASSETS, NET

 

A summary of intangible assets follows:

 

        May 5, 2019  
    Estimated
Life		   Gross Carrying Amount     Accumulated Amortization     Net Carrying Amount  
                       
Patents   10 Years   $ 1,406,738     $ (764,668 )   $ 642,071  
Trademarks   3 Years     945,746       (618,306 )     327,439  
Other Intangibles   5 Years     839,623       (838,937 )     686  
Total       $ 3,192,107     $ (2,221,911 )   $ 970,196  

 

        February 3, 2019  
    Estimated
Life		   Gross Carrying Amount     Accumulated Amortization     Net Carrying Amount   
                       
Patents   10 Years   $ 1,406,336     $ (744,715 )   $ 661,621  
Trademarks   3 Years     868,586       (589,248 )     279,338  
Other Intangibles   5 Years     839,737       (838,365 )     1,372  
Total       $ 3,114,659     $ (2,172,328 )   $ 942,331  

 

Amortization expense associated with intangible assets subject to amortization is included in depreciation and amortization expense on the accompanying condensed consolidated statements of operations. Amortization expense on other intangible assets was $49,583 and $38,154 the thirteen weeks ended May 5, 2019 and May 6, 2018 respectively.

 

As of May 5, 2019, estimated future amortization expense associated with intangible assets subject to amortization is as follows:

 

Remainder of Fiscal 2020   $ 222,020  
2021     179,155  
2022     136,734  
2023     75,467  
2024     75,467  
2025     75,467  
Thereafter     205,886  
    $ 970,196