Trademark License Agreements

3 Months Ended

Apr. 30, 2013

Trademark License Agreements

Trademark License Agreements

Note 4. Trademark License Agreements

	April 30, 2013			January 31, 2013
License Agreement	$	705,667		$	766,000
Impairment		—			(36,000)
Accumulated amortization		(12,166	)		(24,333)
License Agreement, net		693,501			705,667

The amortization period is fifteen years. Amortization expense consists of the following:
	Three Months Ended April 30,
	2013			2012
License Agreement	$	(12,166	)	$	—
Total License Agreement Amortization Expense	$	(12,166	)	$	—

As of April 30, 2013, the remaining useful life of the Company's license agreement was approximately 14.25 years. The following table shows the estimated amortization expense for those assets for the remaining current fiscal year, each of the four succeeding fiscal years and thereafter.

Years Ending January 31,
2014	$	36,501
2015		48,667
2016		48,667
2017		48,667
2018		48,667
Thereafter		462,332
Total	$	693,501