INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 3 – INTANGIBLE ASSETS

Intangible assets at March 31, 2016, represents franchise license costs for the Denver restaurant (net of accumulated amortization of $15,625 and $14,375 as of December 31, 2015).

Amortization expenses of $1,250 have been recorded for each of the three month periods ended March 31, 2016 and 2015. Amortization expense for the next five years and thereafter is estimated to be as follows:

2016	$	3,750
2017		5,000
2018		5,000
2019		5,000
2020		5,000
Thereafter		10,625
	$	34,375

The Company licenses the rights to the trademark “Bourbon Brothers” and certain intellectual property, as defined, from a related party, Hospitality Income & Asset, LLC (“HIA” previously Bourbon Brothers LLC), 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.