INTANGIBLE ASSETS AND GOODWILL

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND GOODWILL

NOTE 6 – INTANGIBLE ASSETS AND GOODWILL

Intangible assets, net consisted of the following as of:

		December 31,			December 31,
	Estimated Life	2019			2018
Trademarks	3.3 – 4.5 years	$	260,000		$	260,000
Website	3 years		—			118,755
Acquired tradename	10 years		—			365,000
Acquired proprietary design	5 years		—			80,000
Acquired developed technology - website	3 years		—			117,500
Acquired developed technology – Ipad application	3 years		—			117,500
Accumulated amortization			(209,575	)		(484,635	)
Impairment			—			(460,789	)
		$	50,425		$	133,331

		December 31,		December 31,
	Estimated Life	2019		2018
Goodwill	indefinite	$	—	$	481,947
Impairment			—		(481,947	)
		$	—	$	—

Future amortization expense related to intangible assets are approximately as follows:

	Total
2020	$	37,819
2021		12,606
	$	50,425

Amortization expense was $62,906 and $234,688 for the years ended December 31, 2019 and 2018 and is classified in general and administrative expenses in the accompanying consolidated Statements of Operations. The reason for the impairment charge of $942,736 in the year ended December 31, 2018 is the result of the Company’s determination that cash flows from CCI may not be realized.