Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

v3.20.1
Intangible Assets, Net
 3 Months Ended
May 03, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS, NET

NOTE 3 - INTANGIBLE ASSETS, NET


A summary of intangible assets follows:


        May 3, 2020  
    Estimated
Life		   Gross Carrying Amount     Accumulated Amortization     Net carrying amount  
Patents    10 Years   $ 2,108,750     $ (883,469 )   $ 1,225,281  
Trademarks    3 Years     1,045,400       (791,335 )     254,065  
Other intangibles    5 Years     839,737       (839,737 )     -  
Total       $ 3,993,887     $ (2,514,541 )   $ 1,479,346  

        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  

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 $78,371 and $49,582 for the thirteen weeks ended May 3, 2020 and May 5, 2019 respectively.


As of May 3, 2020, estimated future amortization expense associated with intangible assets subject to amortization is as follows:


Remainder of Fiscal 2021   $ 236,744  
2022     277,249  
2023     172,032  
2024     149,277  
2025     147,213  
2026     144,546  
Thereafter     352,285  
    $ 1,479,346