XML 24 R12.htm IDEA: XBRL DOCUMENT

Fixed Assets and Intangible Assets

6 Months Ended

Jun. 30, 2017

Note 7 – Fixed Assets and Intangible Assets

As of June 30, 2017 and December 31, 2016, fixed assets and intangible assets consisted of the following:

	June 30, 2017			December 31, 2016

Property and equipment	$	360,870		$	308,084
Less accumulated depreciation		(86,338	)		(50,698	)
Fixed assets, net	$	274,532		$	257,386

Depreciation expense for the three months ended June 30, 2017 and 2016 was $25,246 and $8,467, respectively. Depreciation expense for the six months ended June 30, 2017 and 2016 was $50,311 and $10,694, respectively. During the six months ended June 30, 2017, we sold fixed assets with an aggregate carrying value of $9,076 for $6,199 which resulted in loss on sale of fixed assets of $2,877.

	June 30, 2017			December 31, 2016

FOCUSfactor intellectual property	$	1,450,000		$	1,450,000
Perfekt intellectual property		10,000			-
Intangible assets subject to amortization		6,134,952			5,373,017
Less accumulated amortization		(2,276,702	)		(1,677,583	)
Intangible assets, net	$	5,318,250		$	5,145,434

Amortization expense for the three months ended June 30, 2017 and 2016 was $331,866 and $285,906, respectively. Amortization expense for the six months ended June 30, 2017 and 2016 was $599,119 and $562,316, respectively. These intangible assets were acquired through an Asset Purchase Agreement and Stock Purchase Agreements.