INTANGIBLE ASSETS AND PURCHASE LIABILITY

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Note 3 - INTANGIBLE ASSETS AND PURCHASE LIABILITY

Intangible assets as of March 31, 2019 and December 31, 2018, consist of the following:

	March 31,			December 31,
	2019			2018
Intangible assets	$	302,737		$	302,737
Accumulated amortization		(94,536	)		(69,308	)
Dividend yield	$	208,201		$	233,429

On April 23, 2018, the Company entered into an agreement with MusicPlay Analytics, LLC (d/b/a Soundstr) (“Soundstr”) whereby the Company acquired the assets of Soundstr, a technology that aims to help businesses pay fairer music license fees based on actual music usage. The Company purchased the assets of Soundstr by agreeing to issue 2,275,000 shares of the Company’s common stock, valued at $68,250, based on the closing market price of the Company’s stock on the date of the agreement, and the Company agreed to assume and pay $234,487 of identified Soundstr obligations within 60 days of April 23, 2018.  The Company assigned the aggregate purchase price of $302,737 to intellectual property which will be amortized over a three (3) year period. 

Total amortization expense during the three months ended March 31, 2019 and 2018 was $25,228 and $29,167, respectively, which is included in general and administrative expense in the condensed consolidated statements of operations.