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4. Intangible Assets and Goodwill
12 Months Ended
Dec. 31, 2011
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill

 

4. Intangible Assets and Goodwill

 

Intangible assets consist of goodwill, patents, and in-process research and development. In July 2011 the Company acquired Zymetis, Inc., a biochemical research and development firm, with several patents pending and in-process R&D valued at $1,800,000 at the time of the acquisition. $967,994 in goodwill resulted from the excess in consideration paid over the fair value of the net assets acquired from the Zymetis acquisition. According to ASC 350-20-35 goodwill will be tested for impairment at the Zymetis reporting unit level, which has been named Aemetis Technologies, Inc.  Intangible assets will be measured for impairment and abandonment until fully amortized.

 

As of December 31, 2011 in process R&D is still in development and thus no amortization has been taken.