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Note 5 - Intangible Assets

3 Months Ended

Mar. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [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 March 31, 2014 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, December 31, 2013		$	—			$	224,650			$	1,107,700			$	12,096,712			$	1,974,166			$	15,403,228
Sales of domain names			—				—				—				(1,622	)			—				(1,622	)
Impairment of indefinite life intangible assets			—				—				—				(238,142	)			(12,546	)			(250,688	)
Amortization expense			—				(43,410	)			(175,620	)			—				—				(219,030	)
Net book value, March 31, 2014		$	—			$	181,240			$	932,080			$	11,856,948			$	1,961,620			$	14,931,888

As of March 31, 2014, the accumulated amortization for the definite life intangibles was $5.3 million.

With regard to indefinite life intangible assets, as part of our normal renewal process during the three months ended March 31, 2014, an assessment that certain domain names acquired in the June 2006 acquisition of Mailbank.com Inc. should not be renewed and were allowed to expire. Accordingly, these domain names, with a book value of $0.3 million, have been written off and recorded as impairment of indefinite life intangible assets during the three months ended March 31, 2014. No impairment was recorded on indefinite-life intangible assets during the three months ended March 31, 2013.

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The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 350

-SubTopic 30

-Section 50

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-URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 350

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-URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267



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-Publisher FASB

-Name Accounting Standards Codification

-Topic 350

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-Section 50

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-URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16373-109275



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-URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275



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