v3.19.3

Gain on Intangible Asset | 9 Months Ended
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Sep. 30, 2019
Gain On Intangible Asset [Abstract] |
GAIN ON INTANGIBLE ASSET | NOTE 7 – GAIN ON INTANGIBLE ASSET In February 2019, the Company entered into an agreement with Ducora, Inc., a Florida corporation engaged in the direct marketing of certain consumer products ("Ducora"), to assign and sell to Ducora a patent owned by the Company, together with certain related and proprietary trade secret information, the subject of which is a process for producing a certain coating product usable on automobiles and motorcycles, among other potential surfaces. At December 31, 2018, the Company did not have a value assigned to the intangible assets consisting of the patent and proprietary trade secret information. In exchange for the conveyance of this intellectual property, which was effective immediately upon execution of the agreement, the Company received a one-time cash payment in the amount of $150,000. As a result, the Company recognized a gain on the sale of an intangible asset of $150,000 on our Condensed Consolidated Statement of Operations for the nine months ended September 30, 2019.

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