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INTANGIBLE ASSETS, NET
 12 Months Ended
Feb. 28, 2013
INTANGIBLE ASSETS, NET  
INTANGIBLE ASSETS, NET

8.                                      INTANGIBLE ASSETS, NET

 

Intangible assets, net, consisted of the following:

 

 

 

As of

 

As of

 

 

 

February 29,

 

February 28,

 

 

 

2012

 

2013

 

Domain names

 

$

1,846,858

 

$

2,057,235

 

Copyrights

 

—

 

1,648,532

 

Partnership agreement

 

349,783

 

349,783

 

Trade name

 

262,360

 

262,360

 

Student base

 

221,082

 

221,082

 

Non-compete agreement

 

17,012

 

17,012

 

Education license

 

4,509

 

4,509

 

 

 

 

 

 

 

Total cost of intangible assets

 

2,701,604

 

4,560,513

 

Less: accumulated amortization

 

(2,584,109

)

(2,927,687

)

Add: foreign exchange difference

 

66,028

 

91,618

 

 

 

$

183,523

 

$

1,724,444

 

 

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, except for the addition of copyrights during the year ended February 28, 2013 (See Note 10).

 

The Group recorded amortization expense of $715,038, $490,883, and $343,578 for the years ended February 28, 2011, February 29, 2012 and February 28, 2013, respectively.

 

Estimated amortization expenses of the existing intangible assets for the next five years are $436,992, $436,992, $390,890, $360,053, $87,602 respectively.