INTANGIBLE ASSETS

3 Months Ended

Jul. 31, 2011

INTANGIBLE ASSETS [Abstract]

INTANGIBLE ASSETS

5.     INTANGIBLE ASSETS

We purchased online forums, message boards and website domain names for cash in the amount of $1,909,964 and stock valued at $1,149,541 during the three months ended July 31, 2011 as detailed in Note 2.  Intangibles are either amortized over their estimated lives, if a definite life is determined, or are not amortized if their life is considered indefinite.  We account for the intangible assets at cost.  Intangible assets acquired in a business combination, if any, are recorded under the purchase method of accounting at their estimated fair values at the date of acquisition.  As of July 31, 2011, we recorded $38,675 of amortization associated with its definite lived intangibles.  Intangibles consist of the following:

		July 31,			April 30,
	Est. Life	2011			2011
Online forums and related websites	Indefinite	$	6,322,152		$	3,262,647
Target advertising technology	Indefinite		2,250,000			2,250,000
Trademarks and tradenames	10 years		190,000			190,000
Customer lists	3 years		140,000			140,000
			8,902,152			5,842,647
Less: accumulated amortization			(38,675	)		(30,940	)
		$	8,863,477		$	5,811,707

As of July 31, 2011, there was no impairment of intangible assets.