Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

v3.7.0.1
INTANGIBLE ASSETS
 6 Months Ended
Jun. 30, 2017
Successor [Member]  
INTANGIBLE ASSETS

NOTE 6 – INTANGIBLE ASSETS

 

Intangible assets consisted of the following as of:

 

       

June 30, 2017

     December 31, 2016  
    Estimated Life   Successor     Successor  
                 
Trademarks   3.3 – 4.5 years   $ 260,000     $ 260,000  
Website   3 years     91,000       35,125  
Acquired tradename   10 years     365,000       365,000  
Acquired proprietary design   5 years     80,000       80,000  
Acquired developed technology - website   3 years     117,500       117,500  
Acquired developed technology – Ipad application   3 years     117,500       117,500  
Goodwill   indefinite     481,947       481,947  
Accumulated amortization         (134,852 )     (27,866 )
        $ 1,378,095     $ 1,429,206  

 

Amortization expense was $55,054 and $106,986, and $15,482 and $30,964, for the three and six months ended June 30, 2017 (Successor) and 2016 (Predecessor), and is classified in general and administrative expenses in the consolidated Statements of Operations.