INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSET

NOTE 3 – INTANGIBLE ASSET

Franchise Agreements

The intangible asset at December 31, 2015 and 2014, represents franchise license costs for the Denver restaurant (net of accumulated amortization of $14,375 and $9,375, respectively).

Amortization expense of $5,000 was recorded for each of the years ended December 31, 2015 and 2014. Amortization expense for the next five years is estimated to be as follows:

2016	$	5,000
2017		5,000
2018		5,000
2019		5,000
2020		5,000
Thereafter		10,625
	$	35,625

The Company licenses the rights to the trademark “Bourbon Brothers” and certain intellectual property, as defined, from a related party, Hospitality Income & Asset, LLC, f/k/a Bourbon Brothers LLC (“HIA”), for use in the Company’s business operations. HIA has granted an exclusive license to use and to sublicense the tradename and intellectual property for an initial ten-year term. The agreement shall automatically renew for additional terms of ten-years each without any action required by either party. This license agreement does not require the payment of royalties or any other consideration. The Company is not currently using this trademark in its operations, nor is it contemplated for use in the foreseeable future.