Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSET

v3.20.1
INTANGIBLE ASSET
12 Months Ended
Dec. 31, 2019
Finite-Lived Intangible Assets, Net [Abstract]  
INTANGIBLE ASSET

At December 31, 2019 and 2018, intangible asset consisted of the following:

 

 

 

  Useful life   December 31, 2019      December 31, 2018   
Participation rights - EOW 3 year   $ 2,930,000     $ -  
Hemp operating license - EOW 1 year     10,000       -  
Trademark – Green Goddess 3 year     3,500       -  
Customer list – Green Goddess 3 year     212,529       -  
Brand - Levor 3 year     70,000       -  
      3,226,029       -  

 

Less: accumulated amortization     (828,526 )     -  
Less: Impairment expenses     (250,192 )     -  
    $ 2,147,311     $ -  

  

For the year ended December 31, 2019 and 2018, amortization of intangible assets amounted to $828,526 and $0, respectively. Amortization of intangible assets attributable to future periods is as follows:

 

Year ending December 31:   Amount  
2020   $ 978,750  
2021     976,667  
2022     191,894  
    $ 2,147,311