Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

v3.19.2
Intangible Assets, Net
 6 Months Ended
Aug. 04, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS, NET

NOTE 3 – INTANGIBLE ASSETS, NET

 

A summary of intangible assets follows:

 

        August 4, 2019  
    Estimated
Life		   Gross Carrying Amount     Accumulated Amortization     Net Carrying Amount  
                       
Patents   10 Years   $ 1,560,947     $ (787,571 )   $ 773,376  
Trademarks   3 Years     971,004       (668,690 )     302,314  
Other Intangibles   5 Years     839,737       (839,737 )     -  
Total       $ 3,371,688     $ (2,295,998 )   $ 1,075,690  

 

        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 $74,087 and $40,182 and $123,670 and $78,336 for the thirteen and twenty-six weeks ended August 4, 2019 and August 5, 2018 respectively.

 

As of August 4, 2019, estimated future amortization expense associated with intangible assets subject to amortization is as follows:

 

Remainder of Fiscal 2020   $ 123,060  
2021     238,230  
2022     197,106  
2023     96,161  
2024     92,558  
2025     92,434  
Thereafter     236,141  
    $ 1,075,690