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INTANGIBLE ASSETS
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3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2012
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| Notes to Financial Statements | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NOTE 6 -INTANGIBLE ASSETS | Intangible Assets
Intangible assets include assets capitalized as a result of our acquisitions and represent the valuation of the mobile application portfolio and customer list acquired based on net cash flows from the portfolio. The components of intangible assets were as follows:
Amortization or intangible assets is computed using the straight-line method and is recognized over the estimated useful lives of the intangible assets. Amortization expense was $166,083 and $171 for the three months ended March 31, 2012 and 2011, respectively.
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