Post-effective amendment to a registration statement that is not immediately effective upon filing

Intangible Asset

v3.22.1
Intangible Asset
12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Asset

Note 7 – Intangible Asset

 

As of December 31, 2021 and 2020, intangible assets consisting of the acquired brand assets of Kalahari had a balance of $4,604,359 and $4,962,834 respectively. As of December 31, 2021, management estimated that the remaining useful life of the Company’s intangible asset was approximately 19 years.

 

 

The estimated future amortization of intangibles subject to amortization at December 31, 2021 was as follows:

 

5 Year Schedule      
       
2022   $ 242,335  
2023     242,335  
2024     242,335  
2025     242,335  
2026     242,335  
Thereafter     3,392,686  
         
Total remaining amortization   $ 4,604,359  

 

Amortization expense for the year ended December 31, 2021 was $245,238. There was no amortization in 2020.