| Schedule of Intangible Assets |
A summary of the intangible assets is presented
below:
| Intangible Assets |
|
Trademark |
|
|
Franchise Agreements |
|
|
Non-Compete Agreement |
|
|
Total |
|
| Intangible assets, net at December 31, 2017 |
|
$ |
2,524,000 |
|
|
|
642,429 |
|
|
|
15,451 |
|
|
|
3,181,880 |
|
| Amortization expense |
|
|
- |
|
|
|
(63,808 |
) |
|
|
(2,365 |
) |
|
|
(66,173 |
) |
| Impairment of intangible assets |
|
|
- |
|
|
|
- |
|
|
|
(13,086 |
) |
|
|
(13,086 |
) |
| Intangible assets, net at December 31, 2018 |
|
|
2,524,000 |
|
|
$ |
578,621 |
|
|
$ |
- |
|
|
$ |
3,102,621 |
|
| Amortization expense |
|
|
- |
|
|
|
(63,806 |
) |
|
|
- |
|
|
|
(63,806 |
) |
| Intangible assets, net at December 31, 2019 |
|
$ |
2,524,000 |
|
|
$ |
514,815 |
|
|
$ |
- |
|
|
$ |
3,038,815 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average remaining amortization period at December 31, 2019 (in years) |
|
|
|
|
|
|
8.1 |
|
|
|
0.0 |
|
|
|
|
|
|
| Schedule of Future Amortization Expense |
The estimated future amortization expense is
as follows:
| For the Year Ended December 31, |
|
|
Franchise Agreements |
|
| 2020 |
|
|
$ |
63,981 |
|
| 2021 |
|
|
|
63,806 |
|
| 2022 |
|
|
|
63,806 |
|
| 2023 |
|
|
|
63,806 |
|
| 2024 |
|
|
|
63,981 |
|
| Thereafter |
|
|
|
195,435 |
|
| |
|
|
$ |
514,815 |
|
|