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Note 5: Intangible Assets
 12 Months Ended
Sep. 30, 2012
Note 5 Intangible Assets  
Note 5: Intangible Assets

The Company’s intangible assets consist of licenses for the use of Internet domain names, Universal Resource Locators, or URLs, capitalized website development costs, other information technology licenses and marketing and technology related intangibles acquired through the acquisition of LiveDeal, Inc. All such assets are capitalized at their original cost and amortized over their estimated useful lives ranging from three to 20 years.

 

The Company performed its annual impairment analysis and determined that no impairment existed at September 30, 2012 and 2011. In connection with the discontinued operations related to the Direct Sales business, net intangible assets of $367,588 were written off in the second fiscal quarter of 2011.

 

The following summarizes estimated future amortization expense related to intangible assets that have net balances as of September 30, 2012:

  

2013    240,598 
2014    251,105 
2015    254,396 
2016    201,877 
2017    199,382 
Thereafter    850,314 
     $1,997,671 

 

Total amortization expense related to intangible assets was $140,667 and $349,030 for the years ended September 30, 2012 and 2011, respectively.