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

	December 31,		December 31,
	2019		2018

Intangible assets	$	-0-	$	302,737
Accumulated amortization				(69,308	)
Balance	-0-		$	233,429

On April 23, 2018, the Company entered into an agreement with MusicPlay Analytics, LLC (d/b/a Soundstr) (“Sounds”) 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 the intellectual property which will be amortized over a three (3) year period.

Total amortization expense during the year ended December 31, 2019, and 2018 was $101,032 and $131,581, respectively, which is included in general and administrative expenses in the consolidated statements of operations.

On December 31, 2019 the Company conducted its impairment analysis and although the Company believes that it will be able to generate revenues in the future from the Sounstr asset, based on the lack of any historical sales to date or lack of any pending contracts, Management determined that is could not substantiate any anticipated future revenues, and determined that the remaining book value of the intangible of $132,397 should be impaired as of December 31, 2019.

Pledge Music

On October 16, 2017, the Company entered into an agreement with PledgeMusic, Inc. (the “Seller”), whereby the Company acquired the digital live music distribution platform “Set.fm” from PledgeMusic.The purchase price for the acquisition was comprised of $50,000 paid in cash, and a purchase liability of $300,000, for an aggregate purchase price of $350,000. The Company assigned $350,000 of the purchase price to intellectual property, of which $116,668 was amortized in 2018. As of December 31, 2018, the Company recorded an impairment charge of the remaining balance of $204,165. The purchase liability is payable on the net revenues derived from VNUE’s live recording and content business and must be paid in full to the Seller no later than the three (3) year anniversary of the date of the agreement, or October 16, 2020. If the Company fails to pay the Seller the purchase liability on time, the Seller may request at any time within one hundred eighty days (180) days following the (3) year anniversary of the asset purchase agreement, that the Company immediately forfeit, convey, assign and transfer to the Seller all or any of the Purchased Assets so requested by the Seller for no additional consideration. For the years ended December 31, 2019 and 2018, there was no net revenue derived from the acquired assets and accordingly, no payments were made on the earnout. The balance due at December 31, 2019 and 2018 was $300,000

The Company assigned the purchase price of $350,000 to intellectual property, which was to be amortized over a three year period. The Company recorded amortization of $116,668 during the year ended December 31, 2018. As of December 31, 2018, Management of the Company made an assessment that remaining balance of $204,165 should be impaired.