Intangible asset, net

9 Months Ended

Sep. 30, 2012

Intangible asset, net [Abstract]

Intangible asset, net

10. Intangible asset, net

	September 30,			December 31,
	2012			2011
	(Unaudited)
	$			$
Cost
Consumer battery license fee		1,000,000			1,000,000
Accumulated amortization		(287,500	)		(250,000	)
		712,500			750,000

The Company is amortizing the $1,000,000 cost of the Consumer Battery License agreement over a period of 20 years on the straight line basis over the estimated useful life of the underlying technology, which is based on the Company's assessment of existing battery technology, current trends in the battery business, potential developments and improvements, and the Company's current business plan. Amortization expenses included in selling and distribution costs for the nine months ended September 30, 2012 and 2011 were $37,500 and $37,500, respectively, and $12,500 and $12,500 for the three months ended September 30, 2012 and 2011, respectively.