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INTANGIBLE ASSETS, NET
 12 Months Ended
Feb. 29, 2012
INTANGIBLE ASSETS, NET  
INTANGIBLE ASSETS, NET

9.                                      INTANGIBLE ASSETS, NET

 

Intangible assets, net, consisted of the following:

 

 

 

As of

 

As of

 

 

 

February 28,

 

February 29,

 

 

 

2011

 

2012

 

 

 

 

 

 

 

Domain names

 

$

1,846,858

 

$

1,846,858

 

Partnership agreement

 

405,475

 

349,783

 

Student base

 

315,545

 

221,082

 

Trade name

 

262,360

 

262,360

 

Non-compete agreement

 

19,200

 

17,012

 

Education license

 

9,902

 

4,509

 

 

 

 

 

 

 

Less: accumulated amortization

 

(2,252,379

)

(2,584,109

)

Add: foreign exchange difference

 

49,824

 

66,028

 

 

 

$

656,785

 

$

183,523

 

 

Domain names were acquired from third parties and the rest of intangible assets were recorded as a result of acquisitions in the year ended February 28, 2009.

 

The Group recorded amortization expense of $841,193, $715,038, and $490,883 for the years ended February 28, 2010, February 28,2011 and February 29, 2012, respectively.

 

Estimated amortization expenses of the existing intangible assets for the next five years are $28,601, $28,601, $28,601,$28,601, and $28,601, respectively.