Note 8 - Goodwill and Intangible Assets

3 Months Ended

May 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 8 – GOODWILL AND INTANGIBLE ASSETS

Intangible assets at May 31, 2014 and February 28, 2014 consist of the following:

			May 31, 2014				February 28, 2014
	Amortization Period (years)		Gross Carrying Value		Accumulated Amortization		Gross Carrying Value		Accumulated Amortization
Intangible assets subject to amortization
Store design		10	$	220,778	$	207,027	$	220,778	$	206,652
Packaging licenses		3-5		120,830		120,830		120,830		120,830
Packaging design		10		430,973		430,973		430,973		430,973
Trademark/Non competition agreements		5-20		593,340		13,289		593,340		5,283
Total				1,365,921		772,119		1,365,921		763,738
Intangible assets not subject to amortization
Franchising segment-
Company stores goodwill				1,099,328		267,020		1,099,328		267,020
Franchising goodwill				3,464,500		197,682		3,464,500		197,682
Manufacturing segment-Goodwill				295,000		197,682		295,000		197,682
Trademark				20,000		-		20,000		-
Total Goodwill				4,878,828		662,384		4,878,828		662,384
Franchise Rights		20		6,580,034		174,335		6,580,034		90,786
Total intangible assets			$	12,824,783	$	1,608,838	$	12,824,783	$	1,516,908

Amortization expense related to intangible assets totaled $91,930 and $159 during the three months ended May 31, 2014 and 2013, respectively.

At May 31, 2014, annual amortization of intangible assets, based upon our existing intangible assets and current useful lives, is estimated to be the following:

2015	$	282,057
2016		413,645
2017		459,218
2018		481,977
2019		494,614
Thereafter		4,867,990
Total	$	6,999,501