| 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 |
|
|