INTANGIBLE ASSETS - Note 13

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements

INTANGIBLE ASSETS - Note 13

NOTE 13 — INTANGIBLE ASSETS

As of June 30, 2012 and December 31, 2011, the Company's intangible assets were summarized as follows:

	Useful life	June 30, 2012		December 31, 2011
		(Unaudited)		(Audited)
Software	3 years	$	202,295	$	201,275
Domain name, logo & trade mark	Indefinite		349,600		349,600
Customer list	5 years		86,250		86,250
Technology use right	1 year		126,325		125,432
Patent techniques	10 years		182,651		181,360
Total cost			947,121		943,917
Less: Accumulated amortization			(243,047)		(171,390)
Intangible assets, net		$	704,074	$	772,527

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, 2012 and 2011 was $52,575 and $20,606 respectively. The amortization of intangible assets for the three months ended June 30, 2012 and 2011 was $21,374 and $14,990 respectively. The estimated amortization for the next five years as of June 30, 2012 and thereafter is expected to be as follows by years:

2013	$	182,545
2014		66,596
2015		18,265
2016		18,265
2017		18,265
Thereafter		50,538
Total	$	354,474