INTANGIBLE ASSETS - Note 12

9 Months Ended

Sep. 30, 2012

Notes to Financial Statements

INTANGIBLE ASSETS - Note 12

NOTE 12 - INTANGIBLE ASSETS

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

	Estimated	September 30,		December 31,
	Useful life	2012		2011
		(Unaudited)
Software	3 years	$	202,343	$	201,275
Domain name, logo & trade mark	Indefinite		349,600		349,600
Customer list	5 years		-		86,250
Technology use right	1 year		387,387		125,432
Patent techniques	10 years		182,671		181,360
Total cost			1,122,001		943,917
less: Accumulated amortization			(222,547)		(171,390)
Intangible assets, net		$	899,454	$	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 nine months ended September, 2012 and 2011 was $216,752 and $42,446 respectively. The amortization of intangible assets for the three months ended September, 2012 and 2011 was $164,177 and $21,840 respectively. The estimated amortization for the next five years as of September 30, 2012 and thereafter is expected to be as follows by years:

2012	$	44,481
2013		178,424
2014		140,324
2015		90,194
2016		28,003
2017		19,580
Thereafter		48,848
Total	$	549,854