INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

NOTE 4. INTANGIBLE ASSETS

Intangible assets are comprised of the following:

	March 31, 2015		December 31, 2014
Developed technology	$	7,000,000	$	7,000,000
Customer contracts		6,400,000		6,400,000
Trademarks		1,500,000		1,500,000
		14,900,000		14,900,000
Accumulated amortization		(2,038,889)		(1,427,222)
	$	12,861,111	$	13,472,778

Amortization expense related to intangible assets for the three months ended March 31, 2015 and 2014 was $617,669 and $0, respectively.

The Company hired the same outside third party used to perform the Hard Rock’s intangible assets, liabilities and goodwill allocation at time of purchase, to review the value of goodwill as of December 31, 2014 and determined no impairment was needed. The same procedure will be followed for any future acquisitions. Annually, and more often as necessary, we will perform an evaluation of our intangible assets and goodwill for indications of impairment. If indications exist, we will perform an assessment of the fair value of the intangible assets and the goodwill and if necessary, record an impairment charge.