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Note 2 - Summary of Significant Accounting Policies: Long-lived Assets (Policies)
12 Months Ended
Dec. 31, 2012
Policies  
Long-lived Assets

Long-Lived Assets

 

Long-lived assets are reviewed for impairment when events or changes in circumstances indicate that the carrying amount may not be recoverable. Recoverability of assets to be held and used is measured by comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount that the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell.  Management reviewed the assets at December 31, 2012 and determined there was no impairment. Management reviewed the assets at December 31, 2011 and determined that the long-lived assets of Sendio were fully impaired as further discussed in Note 13.  As a result of this determination, we recognized an impairment loss for the year ended December 31, 2011 related to Sendio’s long term assets as follows:

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

2011

Equipment

 $

                215,283

Construction in process

                288,570

Deposit on building purchase

 

             1,308,875

Total impairment loss

 $

             1,812,728