Annual report pursuant to Section 13 and 15(d)

Other Intangible Assets, Net

v3.20.1
Other Intangible Assets, Net
12 Months Ended
Feb. 02, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
OTHER INTANGIBLE ASSETS, NET

NOTE 3 - OTHER INTANGIBLE ASSETS, NET

 

A summary of other intangible assets follows:

 

        February 2, 2020  
    Estimated Life   Gross
Carrying
Amount
    Accumulated
Amortization
    Net
carrying
amount
 
Patents   10 Years   $ 1,965,794     $ (846,898 )   $ 1,118,896  
Trademarks

  3 Years     982,800       (749,535 )     233,265  
Other intangibles   5 Years     839,737       (839,737 )     -  
Total       $ 3,788,331     $ (2,436,170 )   $ 1,352,161  
                             
        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 on other intangible assets was $263,842 in fiscal 2020 and $198,549 in fiscal 2019.

 

Expected amortization expense by fiscal year for these other intangible assets follows:

 

2021   $ 282,716  
2022     242,086  
2023     136,870  
2024     132,973  
2025     132,917  
Thereafter     424,599  
    $ 1,352,161