INTANGIBLE ASSETS - Note 13

12 Months Ended

Dec. 31, 2011

Notes to Financial Statements

INTANGIBLE ASSETS - Note 13

NOTE 13 — INTANGIBLE ASSETS

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

	Useful life	December 31, 2011			December 31, 2010
Software	3 years	$		201,275	$	30,448
Domain name, logo & trade mark	Indefinite	349,600			349,600
Customer list	5 years	86,250			-
Technology use right	1 year	125,432
Patent techniques	10 years	181,360			174,583
Total cost			943,917			554,631
Less: Total accumulated amortization			(171,390)			(29,173)
Intangible assets, net		$		772,527	$	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 2011 and 2010 was $63,546 and $16,809 respectively. The estimated amortization for the next five years as of December 31, 2011 and thereafter is expected to be as follows by years:

2012	$	301,601
2013	133,294
2014	53,159
2015		35,254
2016		35,254
Thereafter		213,965
Total	$	772,527