| Schedule of Intangible Asset |
The Company had the following intangible assets
as of June 30, 2020, and December 31, 2019:
| |
|
June 30,
2020
|
|
|
December 31,
2019
|
|
| Trademarks (a) |
|
$ |
129,831 |
|
|
$ |
129,831 |
|
| Other Intangible Assets (a) |
|
|
273,028 |
|
|
|
272,528 |
|
| Intangible Assets, Gross |
|
|
402,859 |
|
|
|
402,359 |
|
| Less Accumulated Amortization (b) |
|
|
(372,414 |
) |
|
|
(350,776 |
) |
| Intangible Assets, Net |
|
$ |
30,445 |
|
|
$ |
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. Through June 30, 2019, the Company has not recognized any impairment expense related to these assets. |
| |
(b) |
During the three months ended June 30, 2020 and June 30, 2019, the Company recognized $10,847 and $9,720, respectively, in amortization expense related to the Trademarks, and Other Intangible Assets. During the six months ended June 30, 2020 and June 30, 2019, the Company recognized $21,638 and $19,492, respectively, in amortization expense related to the Trademarks, Product Masters, and Other Intangible Assets. |
|