Quarterly report pursuant to sections 13 or 15(d)

NOTE 4 - INTANGIBLE ASSETS

v2.4.0.6
NOTE 4 - INTANGIBLE ASSETS
3 Months Ended
Mar. 31, 2013
Goodwill and Intangible Assets Disclosure [Text Block]
NOTE 4 – 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:

    (in thousands, except per share data)  
   
March 31, 2013
   
December 31, 2012
 
Proprietary developed software
  $ 294     $ 294  
Intellectual property, customer list, and acquired contracts
    694       694  
                 
Total intangible assets
  $ 988     $ 988  
Less: accumulated amortization
    152       104  
    $ 836     $ 884  

Amortization expense included in depreciation and amortization was $48 and $ -0- for the three months ended March 31, 2013 and 2012, respectively.