Fixed Assets and Intangible Assets, Net

6 Months Ended

12 Months Ended

Jun. 30, 2013

Dec. 31, 2012

Fixed Assets and Intangible Assets, Net [Abstract]

7. Fixed Assets and Intangible Assets, Net

Fixed assets and intangible assets, net consisted of the following at June 30, 2013 and December 31, 2012:

	June 30,			December 31,
	2013			2012
	(Unaudited)
Computer equipment	$	239,875		$	211,896
Furniture and fixtures		142,856			142,856
Leasehold improvements		382,376			377,727
Software		10,968			8,047
Website domain name		124,938			24,938
Website costs		40,500			40,500
Total fixed assets		941,513			805,964
Less: Accumulated depreciation and amortization		(342,977	)		(257,415	)
Total fixed assets and intangible assets, net	$	598,536		$	548,549

The Company only holds fixed assets in the United States. Depreciation and amortization expense for the six months ended June 30, 2013 was $85,563, as compared to $72,476 for the six months ended June 30, 2012.

On January 23, 2013, the Company issued 100,000 shares of common stock with a fair value of $100,000 to an unrelated third party in exchange for the AYI.com domain name (See Note 13).

6. Fixed Assets and Intangible Assets, Net

Fixed assets and intangible assets, net consisted of the following at December 31, 2012 and December 31, 2011:

	December 31,			December 31,
	2012			2011
Computer equipment	$	211,896		$	143,461
Furniture and fixtures		142,856			159,051
Leasehold improvements		377,727			329,156
Software		8,047			7,342
Website domain name		24,938			24,938
Website costs		40,500			40,500
Total fixed assets		805,964			704,448
Less: Accumulated depreciation and amortization		(257,415	)		(125,985	)
Total fixed assets and intangible assets, net	$	548,549		$	578,463

The Company only holds fixed assets in the United States. Depreciation and amortization expense was $151,007 and $51,180 for the years ended December 31, 2012 and 2011, respectively.

The estimated future amortization and depreciation of intangible and tangible assets is as follows:

Year	Amount

2013	$	161,547
2014		156,498
2015		122,365
2016		52,886
2017 and thereafter		55,253
	$	548,549

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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