Note 5 - Intangible Assets

12 Months Ended

Dec. 31, 2012

Notes

Note 5 - Intangible Assets

Note 5 – Intangible Assets

Intangible assets were comprised of the following at December 31, 2012 from Inception:

Trunity platform		Estimated Life	Gross Cost	Accumulated Amortization	Net Book Value
Assets acquired from Trunity, LLC		3 years	$1,775,000	$(1,775,000)	$     -
Internal costs capitalized for period from July 28, 2009 (inception) to December 31, 2009		3 years	121,820	(121,820)	$     -
Internal costs capitalized for the twelve months ended December 31, 2010		3 years	342,345	(285,287)	$57,057
Internal costs capitalized for the twelve months ended December 31, 2011		3 years	327,100	(163,550)	$163,550
Internal costs capitalized for the twelve months ended December 31, 2012		3 years	540,030	(117,690)	$430,341
	Carrying value as of December 31, 2012				$ 650,948

Estimated future amortization expense is as follows for the following periods:

For the period ending December 31, 2012:
2013	$348,768
2014	237,194
2015	64,986
Total future amortization expense	$650,948

The Company’s Trunity Platform technology was acquired from a related company, Trunity, LLC, and was valued at management’s best estimate of its value at that time of the transaction.  Trunity, LLC was wholly owned by the three founders of the Company.  Subsequent internal costs capitalized consist of direct labor, including taxes and benefits.  Amortization of three years is based on management’s best estimate of useful life of current technology in this industry.