Intangible Assets

12 Months Ended

Dec. 31, 2015

6.	Intangible Assets

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

As of December 31, 2015 and 2014, the Company’s amortizing and indefinite lived intangible assets consisted of the following:

		December 31, 2015							December 31, 2014
Amortizing Intangible		Gross Carrying		Accumulated			Net		Gross Carrying		Accumulated			Net
assets		Amount		Amortization			Balance		Amount		Amortization			Balance
Charter/Cooperation agreements	$	2,755,821	$	(746,372	)	$	2,009,449	$	2,755,821	$	(608,580	)	$	2,147,241
Software and licenses		253,930		(234,947	)		18,983		253,930		(215,358	)		38,572
Website and mobile app development		653,830		(403,961	)		249,869		356,425		(356,425	)		-
Total Amortizing Intangible assets	$	3,663,581	$	(1,385,280	)	$	2,278,301	$	3,366,176	$	(1,180,363	)	$	2,185,813
Indefinite lived intangible assets:
Website name		134,290		-			134,290		134,290		-			134,290
Total intangible assets	$	3,797,871	$	(1,385,280	)	$	2,412,591	$	3,500,466	$	(1,180,363	)	$	2,320,103

During the year ended December 31, 2015, our acquired intangible asset was comprised of mobile app development, which is amortized over the weighted-average amortization period of 3.0 years.

We recorded amortization expense related to our finite lived intangible assets of approximately $200,000 and $304,000 during the years ended December 31, 2015 and 2014, respectively.

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

		Amortization to be
Years ending December 31,		Recognized
2016	$	251,576
2017		236,825
2018		193,210
2019		138,409
2020		137,792
Thereafter		1,320,489
Total amortization to be recognized	$	2,278,301

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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