Investment in Aspire Consulting Group, LLC

9 Months Ended

Sep. 30, 2019

Schedule of Investments [Abstract]

Investment in Aspire Consulting Group, LLC

NOTE 5 – INVESTMENT IN ASPIRE CONSULTING GROUP, LLC

On January 5, 2016, the Company entered into a Share Exchange Agreement with Aspire Consulting Group, LLC, a Maryland limited liability company and certain members of Aspire. Pursuant to the terms of the Exchange Agreement, the Company agreed to acquire 49% of all of the issued and outstanding membership units of Aspire in exchange for the issuance of 66,667 shares of the Company’s newly created Series B Convertible Preferred Stock to the Members valued at $460,002. Preferred shares were later converted to 20,000 common stocks.

The Company has concluded that it has the ability to exercise significant influence, but not control, over an Aspire through its acquired 49% equity interest and therefore has accounted for the acquisition of the interest under the equity method.

The following table presents details of the Company’s investment is Aspire as of September 30, 2019 and December 31, 2018:

	Amount
Balance December 31, 2018	$	450,683
Income (loss) from equity method investee		(11,124	)
Distributions received from Aspire		-
Balance September 30, 2019	$	439,559