Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

v3.19.3.a.u2
Intangible Assets, Net
 9 Months Ended
Nov. 03, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS, NET

NOTE 3 - INTANGIBLE ASSETS, NET

 

A summary of intangible assets follows:

 

        November 3, 2019  
    Estimated
Life		   Gross Carrying Amount     Accumulated Amortization     Net Carrying Amount  
                       
Patents   10 Years   $ 1,753,196     $ (814,741 )   $ 938,455  
Trademarks   3 Years     971,004       (709,185 )     261,819  
Other Intangibles   5 Years     839,737       (839,737 )     -  
Total       $ 3,563,937     $ (2,363,663 )   $ 1,200,274  

 

        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 $67,665 and $59,930 and $191,335 and $138,266 for the thirteen and thirty-nine weeks ended November 3, 2019 and November 4, 2018 respectively.

 

As of November 3, 2019, estimated future amortization expense associated with intangible assets subject to amortization is as follows:

 

Remainder of Fiscal 2020   $ 68,455  
2021     257,416  
2022     216,417  
2023     115,419  
2024     111,702  
2025     111,646  
Thereafter     319,219  
    $ 1,200,274