NOTE 6 - INTANGIBLE ASSETS
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Sep. 30, 2012
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Goodwill and Intangible Assets Disclosure [Text Block] |
NOTE 6
– INTANGIBLE ASSETS
Intangible
assets consist of intellectual property and customer lists
acquired and are carried at cost less accumulated
amortization. Amortization is computed using the
straight-line method over the estimated useful lives.
The
components of intangible assets are as follows:
*
Estimated pending results of independent appraisal.
Expected
amortization of intangible assets is as follows:
Amortization
expense included in depreciation and amortization was $46,300
and $ -0- for the three months ended September 30, 2012 and
2011, respectively and $52,600 and $-0- for the nine months
ended September 30, 2012 and 2011, respectively.
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