PURCHASED INTANGIBLE ASSETS, NET

6 Months Ended

Jun. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

PURCHASED INTANGIBLE ASSETS, NET

NOTE 3 – PURCHASED INTANGIBLE ASSETS, NET

Intangible assets, which included the acquisition costs of license and distribution rights for the Company’s Whiskey products were written off due to impairment in the fiscal year ended December 31, 2014.

The Company purchased the whiskey distribution rights from an Australian Whiskey Distillery, however sales consisted only of the sale of samples. Due to the decline in forecasted revenue related to the acquired intangible asset, a $75,000 impairment charge was recorded for the 2014 fiscal year.