Intangible Assets

12 Months Ended

Dec. 31, 2021

Intangible Assets [Abstract]

INTANGIBLE ASSETS

NOTE 6 – INTANGIBLE ASSETS

On April 1, 2021, the Company’s subsidiary, Zoned Brokerage, entered in an engagement letter for real estate brokerage services with a consultant for a guaranteed term of one year (the “Guaranteed Term”). During the Guaranteed Term, neither party may terminate the engagement letter, except for “Cause” as defined in the engagement letter. In connection with the engagement letter, the Company issued 60,000 shares of its common stock for the acquisition of brokerage materials and active real estate listings. In the event of termination of the engagement letter due to cause with respect to the consultant, the consultant must return to the Company a portion of the stock equal to the remaining portion of the Guaranteed Term. The shares were valued at their fair value of $37,800 using the quoted per share price on the date of grant of $0.63. In connection with these shares, on April 1, 2021, the Company recorded an intangible asset of $37,800 which is amortized over the one-year term of the engagement letter.

On December 31, 2021 and 2020, intangible assets consisted of the following:

	Useful life	December 31, 2021			December 31, 2020
Real estate brokerage materials and listing	1 year	$	37,800			-
Less: accumulated amortization			(28,350	)		-
		$	9,450		$	-

For the year ended December 31, 2021, amortization of intangible assets amounted to $28,350, respectively.