INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2016

Intangible Assets

INTANGIBLE ASSETS

The Company has incurred costs to trademark eight of its current products and marketing nomenclatures. During 2015, the Company purchased a patent in relation to the purchase of GT Beverage, and also assumed the trademarks of Bazi Intl. Patents and trademarks are being amortized over the lesser of their remaining life or 15 years.

Intangible assets are:

	December 31, 2016			December 31, 2015
Patents and trademarks	$	1,027,438		$	1,706,849
Accumulated amortization		(777,438	)		(636,261	)
	$	250,000		$	1,070,588

Amortization expense for the year ended December 31, 2016 and 2015 was $141,177 and $148,768, respectively. In 2016, the Company stopped using the bottle associated with the spherical bottle patent. The Company is evaluating its options for the patent. As such, the Company estimated the value of the patent using a discounted cash flows approach. This valuation lead to the Company recording an impairment charge of $679,411 to the Patent. For these assets, amortization expense over the next five years and thereafter is expected to be as follows:

	Patent and Trademark Amortization
2017	$	37,975
2018		37,975
2019		37,975
2020		37,975
2021		37,975
2022 and thereafter		60,125
	$	250,000