Intangible Assets

9 Months Ended

Sep. 30, 2015

Intangible Assets [Text Block]

6. Intangible Assets

The Company intangible assets primarily arose from the acquisition of YOD Hong Kong.

As of September 30, 2015, the Company’s amortized intangible assets consisted of the following:

		September 30, 2015							December 31, 2014
		Gross Carrying		Accumulated			Net		Gross Carrying		Accumulated			Net
		Amount		Amortization			Balance		Amount		Amortization			Balance
Charter/ Cooperation agreements	$	2,755,821	$	(711,924	)	$	2,043,897	$	2,755,821	$	(608,580	)	$	2,147,241
Software and licenses		253,930		(227,860	)		26,070		253,930		(215,358	)		38,572
Website and mobile app development		653,830		(375,689	)		278,141		356,425		(356,425	)		-
Total definite lived intangible assets	$	3,663,581	$	(1,315,473	)	$	2,348,108	$	3,366,176	$	(1,180,363	)	$	2,185,813
Website name		134,290		-			134,290		134,290		-			134,290
Total intangible assets	$	3,797,871	$	(1,315,473	)	$	2,482,398	$	3,500,466	$	(1,180,363	)	$	2,320,103

We recorded amortization expense related to our finite lived intangible assets of approximately $52,000 and $137,000 for the three and nine months ended September 30, 2015. We recorded amortization expense related to our finite lived intangible assets of approximately $70,000 and $234,000 for the three and nine months ended September 30, 2014.

The following table outlines the amortization expense for the next five years and thereafter:

		Amortization to be
Years ending December 31,		Recognized
2015 (3 months)	$	62,003
2016		255,274
2017		239,487
2018		194,788
2019		138,275
2020		137,792
Thereafter		1,320,489
Total amortization to be recognized	$	2,348,108