INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 3 – INTANGIBLE ASSETS

Intangible assets at June 30, 2016, represent franchise license costs for the Denver restaurant (net of accumulated amortization of $16,875). Amortization expenses of $1,250 and $2,500 have been recorded for the three and six month periods ended June 30, 2016 and 2015. Amortization expense for the next five years and thereafter is estimated to be as follows:

Year ending
2016 (remainder of year)	$	2,500
2017		5,000
2018		5,000
2019		5,000
2020		5,000
Thereafter		10,625
	$	33,125

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.