Note 5 - Heritage and Cultural Assets

9 Months Ended

Sep. 30, 2015

Heritage And Cultural Assets [Abstract]

Heritage And Cultural Assets [Text Block]

Note 5 - Heritage and Cultural Assets

As of September 30, 2015 and December 31, 2014, Nova Museum had heritage and cultural assets of $127,465 and $132,513, consisting principally of collectibles and antiques for exhibition. Depreciation is not required to be provided on heritage assets that have indefinite lives and no reduction in their value with the passage of time; however, the carrying amount of the heritage and cultural assets will be reviewed when there is evidence of impairment in accordance with ASC 360-10.