Intangible Assets, Net
|3 Months Ended|
Mar. 31, 2021
|Goodwill and Intangible Assets Disclosure [Abstract]|
|Intangible Assets, Net||
5. INTANGIBLE ASSETS, NET
A roll-forward of goodwill is as follows:
OTHER INTANGIBLE ASSETS
Franchise and trademark/tradename intangible assets consist of the following:
An analysis of the recoverability of the carrying value was performed at each quarter end beginning at the end of the first quarter of 2020 and continuing through March 31, 2021. Based on that analysis, an impairment charge of approximately $327,000 was recorded to trademarks/tradenames for ABC: American Burger Company during the three months ended March 31, 2021. No other intangible assets were impaired during the three months ended March 31, 2020.
Amortization of intangible assets was $90,760 and $90,959 for the three months ended ended March 31, 2021 and 2020, respectively.
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef