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NOTE 5 - INTANGIBLE ASSETS
12 Months Ended
Dec. 31, 2018
Finite-Lived Intangible Assets, Net [Abstract]  
(5) INTANGIBLE ASSETS

(5) INTANGIBLE ASSETS

 

In March 2015, as part of the acquisition of the Writer Square downtown location, the Company purchased the rights to negotiate a lease from the landlord for $125,000 in cash. The Company is amortizing this value over the remaining term of the lease.

 

In March 2016, as part of the acquisition of the Capital Hill location, the Company purchased the existing liquor license for $4,300 in cash. The Company is amortizing this value of the remaining term of the lease.

 

In September 2018, as part of the acquisition of the CitiSet location, the Company acquired a liquor license for $5,286 in cash. The Company is amortizing this value of the remaining term of the lease.

 

Amortization expense was $39,490 and $7,110 for the years ended December 31, 2018 and 2017, respectively.

 

Amortization expense will be $13,712 each year for the next five years, or a total of $68,562.