Note 5 - Intangible Assets

9 Months Ended

Sep. 30, 2011

Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]

5. INTANGIBLE ASSETS:

Intangible assets consist of acquired technology, brand, customer relationships, surname domain names and our portfolio of domain names. As reflected in the table below, these balances are being amortized on a straight-line basis over the life of the intangible assets, except for the surname domain names and portfolio domain names; which have been determined to have an indefinite life and which are tested annually for impairment.

A summary of acquired intangible assets for the three months ended September 30, 2011 is as follows:

	Technology 2 – 7 years			Brand 7 years			Customer relationships 4 – 7 years			Surname domain names indefinite life			Direct navigation domain names indefinite life			Total

Net book value, June 30, 2011	$	—		$	440,300		$	1,628,000		$	12,123,647		$	2,059,903		$	16,251,850
Acquisition of EPAG Domainservices GMBH		287,300			215,475			1,221,025			—			—			1,723,800
Sales of domain names		—			—			—			(974	)		(7,841	)		(8,815	)
Amortization expense		(23,960	)		(40,435	)		(160,745	)		—			—			(225,140	)
Net book value, September 30, 2011	$	263,340		$	615,340		$	2,688,280		$	12,122,673		$	2,052,062		$	17,741,695

A summary of acquired intangible assets for the nine months ended September 30, 2011 is as:

	Technology 2 – 7 years			Brand 7 years			Customer relationships 4 – 7 years			Surname domain names indefinite life			Direct navigation domain names indefinite life			Total

Net book value, December 31, 2010	$	25,720		$	519,780		$	2,133,260		$	12,125,918		$	2,078,723		$	16,883,401
Acquisition of EPAG Domainservices GMBH		287,300			215,475			1,221,025			—			—			1,723,800
Sales of domain names		—			—			—			(3,245	)		(26,661	)		(29,906	)
Amortization expense		(49,680	)		(119,915	)		(666,005	)		—			—			(835,600	)
Net book value, September 30, 2011	$	263,340		$	615,340		$	2,688,280		$	12,122,673		$	2,052,062		$	17,741,695

- Definition

Disclosure of accounting policy for intangible assets. This accounting policy may address both intangible assets subject to amortization and those that are not. The following also may be disclosed: (1) a description of intangible assets (2) the estimated useful lives of those assets (3) the amortization method used (4) how the entity assesses and measures impairment of such assets (5) how future cash flows are estimated (6) how the fair values of such asset are determined.

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