Quarterly report pursuant to sections 13 or 15(d)

NOTE 6 - INTANGIBLE ASSETS (Tables)

v2.4.0.6
NOTE 6 - INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 30, 2012
Schedule of Finite-Lived Intangible Assets [Table Text Block]
The components of intangible assets at June 30, 2012 are as follows:

   
December 31, 2011
   
June 30, 2012
   
Estimated Useful Lives
                 
Proprietary software
  $ 95,445     $ 158,106       5
Intellectual property, customer list, and acquired contracts
    -0-       741,598       5
                       
Total intangible assets
  $ 95,445     $ 899,704        
Less: accumulated amortization
    -0-       6,300        
    $ 95,445     $ 893,404        
Schedule of Expected Amortization Expense [Table Text Block]
Expected amortization of intangible assets is as follows:

2012
  $ 89,963  
2013
    179,228  
2014
    179,228  
2015
    179,228  
2016
    179,228  
Thereafter
    90,028  
    $ 899,704