Annual report pursuant to Section 13 and 15(d)

Intangible Assets, Net (Tables)

v3.20.1
Intangible Assets, Net (Tables)
12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill

Goodwill consist of the following at December 31, 2019 and 2018:

 

    December 31, 2019     December 31, 2018  
Beginning Balance   $ 10,564,353     $ 12,647,806  
Impairment     (2,025,720 )     (1,191,111 )
Reclassification to discontinued operations     -       (716,112 )
Foreign currency translation gain (loss)     29,255       (176,230 )
Ending Balance   $ 8,567,888     $ 10,564,353  

Schedule of Other Intangible Assets

Franchise and trademark/tradename intangible assets consist of the following at December 31, 2019 and December 31, 2018:

 

        December 31, 2019     December 31, 2018  
Trademark, Tradenames:                    
American Roadside Burger   10 years   $ 1,786,930     $ 1,786,930  
BGR: The Burger Joint   Indefinite     985,996       1,430,000  
Little Big Burger   Indefinite     1,550,000       1,550,000  
          4,322,926       4,766,930  
Acquired Franchise Rights                    
BGR: The Burger Joint   7 years     827,757       827,757  
                     
Franchise License Fees:                    
Hooters Pacific NW   20 years     74,507       89,507  
Hooters UK   5 years     12,917       12,422  
          87,424       101,929  
Total Intangibles at cost         5,238,107       5,696,616
Accumulated amortization         (1,581,112 )     (1,226,801 )
Intangible assets, net       $ 3,656,995     $ 4,469,815  

 

    Twelve Months Ended  
    December 31, 2019     December 31, 2018  
Amortization expense   $ 373,776     $ 419,642