General form of registration statement for all companies including face-amount certificate companies

5. Goodwill and Intangible Assets, Net (Tables)

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5. Goodwill and Intangible Assets, Net (Tables)
 9 Months Ended 12 Months Ended
Sep. 30, 2019
Dec. 31, 2018
Goodwill And Intangible Assets Net    
Schedule of Intangible Asset

   

September 30,

2019

    

December 31,

2018

  
Trademarks (a)   $ 129,831     $ 129,831  
Product Masters (a)     64,676       64,676  
Other Intangible Assets (a)     272,528       272,529  
Intangible Assets, Gross     467,035       467,036  
Less Accumulated Amortization (b)     (405,996 )     (377,048 )
Intangible Assets, Net   $ 61,039     $ 89,988  

  

  (a) Pursuant to FASB ASC 350-30-35, the Company reviews these intangible assets periodically to determine if the value should be retired or impaired due to recent events. Through September 30, 2019, the Company has not recognized any impairment expense related to these assets.
  (b) During the three months ended September 30, 2019 and September 30, 2018, the Company recognized $9,456 and $9,560, respectively, in amortization expense related to the Trademarks, Product Masters, and Other Intangible Assets. During the nine months ended September 30, 2019 and September 30, 2018, the Company recognized $28,949 and $37,877, respectively, in amortization expense related to the Trademarks, Product Masters, and Other Intangible Assets.

 

The Company had the following intangible assets as of December 31, 2018 and 2017:

 

    December 31, 2018     December 31, 2017  
             
Identifiable Artistic-Related Assets (a)     –     $ 1,740,000  
Trademarks (b)   $ 129,831       129,831  
Product Masters (b)     64,676       64,676  
Other Intangible Assets (b)     272,529       251,171  
Intangible Assets, Gross     467,036       2,185,678  
Less Accumulated Amortization (c)     (377,048 )     (329,398 )
Intangible Assets, Net   $ 89,988     $ 1,856,280  

 

(a) In connection with the Merger in 2013, the Company acquired $1,740,000 of Identifiable Artistic-Related Assets. These assets, related to certain properties owned by A Squared and assumed by the Company, were valued using an independent firm. Based on certain legal, regulatory, contractual, and economic factors, the Company has deemed these assets to be indefinite-lived. Hence, pursuant to FASB ASC 350-30, these assets are not subject to amortization and are tested annually for impairment. As of December 31, 2018, the Company performed an analysis and determined the Identifiable Artistic-Related Intangible Assets no longer have value and as a result has recognized $1,740,000 of impairment expense related to the Identifiable Artistic-Related Intangible Assets.

 

(b) Pursuant to FASB ASC 350-30-35, the Company reviews these intangible assets periodically to determine if the value should be retired or impaired due to recent events. Through December 31, 2018, the Company has not recognized any impairment expense related to these assets.

 

(c) During the years ended December 31, 2018 and December 31, 2017, the Company recognized, $47,650 and $55,520, respectively, in amortization expense related to the Trademarks, Product Masters, and Other Intangible Assets.
Schedule of expected future ingtangible asset amortization

Expected future intangible asset amortization as of September 30, 2019 is as follows:

 

Fiscal Year:        
  2019     $ 9,456  
  2020       37,835  
  2021       9,698  
  2022       1,861  
  2023       1,465  
  2024       724  
  Total     $ 61,039  

Expected future intangible asset amortization as of December 31, 2018 is as follows:

 

Fiscal Year:      
2019   $ 38,405  
2020     37,825  
2021     9,698  
2022     1,861  
2023     1,465  
Remaining     734  
Total   $ 89,988