Baristas Coffee Company, Inc. (BCCI)

[BobSinCA]

Intangibles in FS Note 6, 10-K p.26.

2014 2013
Goodwill $ 2,770,651 $ 2,770,651

Definite-lived intangibles:
Trademarks 100,000 100,000
Logo 80,000 80,000
Website 27,500 27,500
Policies and procedures 10,000 10,000
Ice cream intangibles 125,000 125,000
Total Definite-lived 342,500 342,500
Accumulated amortization (153,958 ) (109,458 )
Definite-lived intangibles, net 188,542 233,042

Total intangible/goodwill $ 2,959,193 $ 3,003,693

The following is said about the Goodwill:

The intangible assets were purchased along with the hard assets, from the Pangea purchase in December 2009, for $3.5 million in our common stock. After the assets and intangible assets were identified, the remaining $2,770,651 was recorded as goodwill. The Company does notamortize goodwill. Instead, the Company evaluates goodwill annually in the fourth quarter and whenever events or changes in circumstancesindicate that it is more likely than not that an impairment loss has been incurred. As at December 31, 2014 and December 31, 2013, the Company determined that no such impairment existed

It is hard to understand the positive value of this goodwill, with the kiosks (purchased from Pangea) generating millions in losses each year -- but that is between the company and its auditors.

Also, there is a factual inaccuracy about the ice cream intangible asset, it was not purchased from Pangea but rather was purchased for $500K in stock from Caliph Diaries.

PS. Tried to format the numbers, but the spaces didn't 'take.'