INTANGIBLE ASSETS - Note 12

6 Months Ended

Jun. 30, 2011

Notes to Financial Statements

INTANGIBLE ASSETS - Note 12

NOTE 12 — INTANGIBLE ASSETS

As of June 30, 2011 and December 31, 2010, the Company's intangible assets were summarized as follows:

	Useful life	June 30, 2011		December 31, 2010
				(Audited)
Software	3 years	$	85,281	$	30,448
Domain name, logo & trade mark (from related party)	Indefinite	349,600		349,600
Patent techniques	10 years	178,575		174,583
Total cost			613,456		554,631
Less: Total accumulated amortization			(50,226)		(29,173)
Intangible assets, net		$	563,230	$	525,458

Intangible assets are stated at cost less accumulated amortization. The Company acquired domain name "zoom.com" and related logo & trade name for 80,000 shares of common stock valued $349,600 as of the date of purchase. The domain name, logo and trademark have indefinite lives and no amortization was recorded. The amortization of intangible assets for the six months ended June 30, 2011 and 2010 was $20,606 and $2,044 respectively. The amortization of intangible assets for the three months ended June 30, 2011 and 2010 was $14,990 and $2,044 respectively. The estimated amortization for the next five years as of June 30, 2011 and thereafter is expected to be as follows by years:

2012	$	46,284
2013	45,221
2014	17,857
2015		17,857
2016		17,857
Thereafter		68,554
Total	$	213,630