Intangible Assets

6 Months Ended

Jun. 30, 2011

Intangible Assets

4. Intangible Assets

The following table is a summary of intangible assets as of June 30, 2011:

Customer relationships	$	693,335
Less: accumulated amortization		(41,270	)
Intangible assets, net	$	652,065

The Company’s amortizable intangible assets consist of customer relationships which resulted from the acquisition of Hocks.com (see note 11) and are being amortized on a straight-line basis over their estimated useful life of seven years. Amortization expense for the three and six months ended June 30, 2011 was $24,762 and $41,270, respectively.

The following is a summary of amortization expense for the next five years and thereafter:

Year ended December 31,
2011	$	49,524
2012		99,048
2013		99,048
2014		99,048
2015		99,048
Thereafter		206,349
	$	652,065