INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2012

INTANGIBLE ASSETS [Abstract]

INTANGIBLE ASSETS

NOTE 3 - INTANGIBLE ASSETS

Franchise Agreements

Through December 2011, the Company paid $300,000 for the non-exclusive rights and license to use the Southern Hospitality system and Southern Hospitality licensed marks in connection with the operation of ten restaurants to be owned and operated by the Company under franchise and related area development agreements. These costs are allocable to each planned restaurant. The allocated cost to each restaurant is to be amortized beginning with each restaurant opening over the remaining ten-year term of the related franchise agreement. Amortization began in February 2013 with the opening of the Company's first Denver-based restaurant. Amortization expense for the five years following 2012 is estimated to be as follows:

2013	$	8,125
2014		17,500
2015		22,500
2016		27,500
2017		30,000
Thereafter		194,375
	$	300,000