| Schedule of Intangible Asset |
Intangible Assets, Net
| |
|
December 31, 2020 |
|
|
December 31, 2019 |
|
| Trademarks (a) |
|
$ |
129,831 |
|
|
$ |
129,831 |
|
| Other Intangible Assets (a) |
|
|
299,028 |
|
|
|
272,528 |
|
| Intangible Assets, Gross |
|
|
428,859 |
|
|
|
402,359 |
|
| Less Accumulated Amortization (b) |
|
|
(400,165 |
) |
|
|
(350,776 |
) |
| |
|
|
|
|
|
|
|
|
| Intangible Assets, Net |
|
$ |
28,694 |
|
|
$ |
51,583 |
|
| |
(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. At December 31, 2019, the Company determined that the Product Masters inventory had no further useful life and the asset value and accumulated amortization were written off. |
| |
(b) |
During the years ended December 31, 2020 and December 31, 2019, the Company recognized, $49,388 and $38,405, respectively, in amortization expense related to the Trademarks, Product Masters, and Other Intangible Assets. |
|