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Fixed Assets and Intangible Assets

12 Months Ended

Dec. 31, 2017

Note 9 – Fixed Assets and Intangible Assets

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

	December 31, 2017			December 31, 2016

Property and equipment	$	437,358		$	308,084
Less accumulated depreciation		(144,153	)		(50,698	)
Fixed assets, net	$	293,205		$	257,386

Depreciation expense for the years ended December 31, 2017 and 2016 was $108,126 and $44,480, respectively.

	December 31, 2017			December 31, 2016

FOCUSfactor intellectual property	$	1,450,000		$	1,450,000
Per-fekt intellectual property		10,000			-
Intangible assets subject to amortization		7,134,952			5,373,017
Less accumulated amortization and impairment		(3,062,742	)		(1,677,583	)
Intangible assets, net	$	5,532,210		$	5,145,434

Amortization expense for the years ended December 31, 2017 and 2016 was $1,385,159 and $1,126,298, respectively. Impairment of intangible assets for the year ended December 31, 2016 was $193,750. These intangible assets were acquired through the Asset Purchase Agreement and the Stock Purchase Agreements disclosed in Note 3.

The estimated aggregate amortization expense over each of the next five years is as follows:

2018	$	1,661,798
2019		1,661,640
2020		748,663
2021		8