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5. INTANGIBLE ASSETS
 3 Months Ended
Mar. 31, 2013
Notes to Financial Statements  
NOTE 5. INTANGIBLE ASSETS

Definite life intangible assets consist of the following:

 

    March 31,     December 31,  
    2013     2012  
    (Unaudited)        
Intellectual property and trademarks   $ 111,100     $ 111,100  
                 
Less: Accumulated Amortization and Impairment Loss     111,100       111,100  
    $ -     $ -  

 

The Company’s definite life intangible assets were being amortized over their estimated useful lives of ten years.  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.