Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

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INTANGIBLE ASSETS
 9 Months Ended
Sep. 30, 2017
Successor [Member]  
INTANGIBLE ASSETS

NOTE 6 – INTANGIBLE ASSETS 

 

Intangible assets consisted of the following as of: 

 

        September 30, 2017     December 31, 2016  
    Estimated Life   Successor     Successor  
                 
Trademarks   3.3 – 4.5 years   $ 260,000     $ 260,000  
Website   3 years     102,513       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         (190,136 )     (27,866 )
        $ 1,334,324     $ 1,429,206  

 

Amortization expense was $55,284 and $162,270, and $17,569 and $48,533, for the three and nine months ended September 30, 2017 (Successor) and 2016 (Predecessor), respectively, and is classified in general and administrative expenses in the consolidated Statements of Operations.