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4. INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2012
Notes to Financial Statements |
NOTE 4. INTANGIBLE ASSETS | NOTE 4. INTANGIBLE ASSETS Definite life intangible assets consist of the following:
|  | December 31, |  | December 31,
|  | 2012 |  | 2011
Intellectual property and trademarks |  | $ 111,100 |  | $ 111,100
Less: Accumulated Amortization and Impairment Loss |  | 111,100 |  | 30,551
|  | $ 0 |  | $ 80,549
The Company’s definite life intangible assets were being amortized over their estimated useful lives of ten years. Amortization expense was $11,110 for the years ended December 31, 2012 and 2011, respectively. At December 31, 2012 the Company determined that the fair value of the intangible assets was impaired. Accordingly, an impairment charge of $69,439 was recorded on the Company’s definite-life intangibles, reducing the carrying value of these intangible assets to $0.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 44, 45, 46 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16323-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16373-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16265-109275 + Details
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