1.
Pren-Tech
Corporation Intangible Assets Section of Balance Sheet December 31, 2019 |
|
Franchise from Rapid Copy Service Inc., net | $ 72,360 |
Patent, net | 15,336 |
Trademark, net | 50,193 |
Total Intangible Assets | $ 137,889 |
Schedule 1 :
Computation of
Franchise from Rapid Copy Service Inc. Schedule I |
|
Cost of Franchise on January 1, 2019 | $ 80,400 |
Amortization for 2019 | 8,040 |
Franchise balance, December 31, 2019 | $ 72,360 |
Schedule 2 :
Computation of
Patent Schedule 2 |
|
Capitalized cost of Patent, January 2, 2019 | $ 17,040 |
Amortization for 2019 | 1,704 |
Patent balance, December 31, 2019 | $ 15,336 |
Schedule 3 :
Computation of
Trademark Schedule 3 |
|
Cost of Trademark at July 1, 2016 | $ 47,000 |
Amortization through December 31, 2018 | 4,700 |
Amortization for period January - June 2019 | 940 |
Cost of successful litigation in defense of trademark, July 1, 2019 | 10,000 |
Balance July 1, 2019 | 51,360 |
Amortization for period July 1 - December 31, 2019 | 1,167 |
Balance, December 31, 2019 | $ 50,193 |
2.
Pren - Tech
Corporation Expenses Resulting from Intangibles Transactions For the year ended December 31, 2019 |
|
Franchise from Rapid Copy Service Inc. | |
Amortization of Franchise | $ 8,040 |
Franchise fee on revenue from operations | 40,000 |
Imputed interest expense on unpaid balance of initial franchise fee | 7,756 |
Total franchise expenses | $ 55,796 |
Amortization of patent | 1,704 |
Amortization of trademark | 2,107 |
Total expenses | $ 115,403 |
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