Intangible Assets

9 Months Ended

Jul. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Note 5   – Intangible Assets

The Company’s intangible assets include patents and technology that were acquired pursuant to the GoFire APA. The cost and accumulated amortization of the intangible assets amounted to $11,795,975 and $131,066 as of July 31, 2023, respectively. Amortizable patents and technology have a useful life of 15.0 years with a weighted average remaining useful life of 14.9 years.

The Company recognized amortization expense of $131,066 for the three months and nine months ended July 31, 2023. Amortization expense is included under general and administrative expenses in the consolidated statement of operations.

Future amortization expense of intangible assets is as follows:

2023   (remaining three months)	$	196,600
2024		786,398
2025		786,398
2026		786,398
2027		786,398
Thereafter		8,322,717
Total	$	11,664,909