Property and equipment consist of the following:

	December 31, 2020			June 30, 2020

Software platform	$	4,482,225		$	4,482,225
Furniture and fixtures		1,500			1,500
Less accumulated amortization		(1,447,578	)		(1,085,355	)
Property and equipment, net	$	3,036,147		$	3,398,370

On November 6, 2018, the Company acquired a customer facing software (“Loyalty Software”) through a Stock Purchase Agreement, where the Company acquired all the issued and outstanding capital stock of Greenlight Technologies, Inc. (“GTI”) from its shareholders. At the time of the transaction, there were no employees working for GTI, no systems and no assets, other than the Loyalty Software. GTI’s legal entity was dissolved in the transition and the Loyalty Software was assumed by the Company. Management determined that the purchase of GTI did not constitute a business purchase and recorded the transaction as a purchase of software. The consideration for the Loyalty Software was 2,916,667 shares of common stock, par value $0.001 per share and cash of approximately $450,000. Total value of the Loyalty Software was estimated at approximately $3,010,000. The additional consideration for future developments will be evaluated and considered enhancements which will either be capitalized to the software or expensed as research and development costs. During the year ended June 30, 2020 additional Incentive Shares of 366,667 for a value of $262,500 was issued to shareholders of GTI as final settlement of the 2018 agreement. During the six months ended December 31, 2020 there was no software capitalized and for the same period ended 2019, the Company capitalized approximately $405,992 of software enhancements.

GTI provides cannabis consumers real-time mobile ordering and loyalty rewards through an internally developed application that integrates with the local dispensary’s point of sale system. The Company plans to fully integrate this technology into the current platform and create an “Ultimate Bundle” of services for the cannabis industry.

Amortization expense, recorded as cost of revenue, related to internal use software totaled $362,223 during the six months ended December 31, 2020 and for the same period ended 2019 amortization expenses was $336,219. Amortization expense for the next five years is as follows:

2021	$	724,445
2022		724,445
2023		724,445
2024		622,359
Thereafter		240,453
Total Unamortized Expense	$	3,036,147