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OTHER ASSETS
3 Months Ended
Mar. 31, 2013
Notes to Financial Statements  
NOTE 5 - OTHER ASSETS

On June 22, 2011, the Company entered into a technology transfer agreement with an unaffiliated third party, which included a liability in the amount of $36,000 (Note 9) and 96,000 shares of common stock (Note 11) in exchange for the right, title, and interest in the Marishco Game Engine. The liability is payable in 24 installments of $1,500 per installment. The common stock is payable in eight quarterly installments of 12,000 shares per installment. As of March 31, 2013, the Company has issued a total of 48,000 shares to the unaffiliated third party and reduced common stock payable accordingly.

 

The game engine will be amortized on a straight-line basis over the useful life of three years. For the periods ended March 31, 2013 and March 31, 2012 amortization expense was $5,800 and $5,800 respectively.