Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.21.1
Intangible Assets
 9 Months Ended
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

Note 5. Intangible Assets


Intangible assets as of September 30, 2020 and December 31, 2019 consisted of the following:


        September 30,
2020		     December 31,
2019		  
Intangible assets   Useful life   Gross assets     Accumulated amortization     Net     Gross assets     Accumulated amortization     Net  
Ticketing software   5 years   $ 64,000     $ (21,333 )   $ 42,667     $ 64,000     $ (11,733 )   $ 52,267  
Promoter relationships   7 years     176,000       (41,905 )     134,095       176,000       (23,048 )     152,952  
Total intangible assets       $ 240,000     $ (63,238 )   $ 176,762     $ 240,000     $ (34,781 )   $ 205,219  

Amortization expense for the three months ended September 30, 2020 and 2019, was $8,941 and $9,485, respectively. Amortization expense for the nine months ended September 30, 2020 and 2019, was $28,457 and $25,295, respectively.


As of September 30, 2020, the estimated future amortization expense of amortizable intangible assets is as follows:


The estimated future amortization expense for the next five years and thereafter is as follows:


Year ending December 31,      
2020 (remaining 3 months of 2020)   $ 9,486  
2021     37,943  
2022     37,943  
2023     37,943  
2024     26,209  
Thereafter     27,238  
Total   $ 176,762