Intangible Assets

9 Months Ended

Sep. 30, 2025

Intangible Assets

Intangible Assets

Note 6 – Intangible Assets

Intangibles

In accordance with FASB ASC 350, “Intangibles-Goodwill and Other”, the Company evaluates the recoverability of identifiable intangible assets whenever events or changes in circumstances indicate that an intangible asset’s carrying amount may not be recoverable. The impairment loss would be calculated as the amount by which the carrying value of the asset exceeds its fair value. The US and Europe trademarks were acquired for $40,000 and $50,000, respectively, for the year ended December 31, 2018. Trademarks are initially measured based on their fair value and amortized by 10 and 25 years.

Acquisition intangible assets arising out of the acquisition of Hempirical Genetics, LLC. That should, in accordance with GAAP, be classified as intangibles, include goodwill.

On September 30, 2025 and December 31, 2024, intangibles consists of the following:

	September 30, 2025			December 31, 2024
Trademark		50,000			50,000
Grower License		667			667
Less: Accumulated amortization		(19,034	)		(17,084	)
Total other intangibles, Net		31,633			33,583

Amortization expense totaled $9,641 and $1,950 for the nine months ended September 30, 2025 and 2024, respectively.