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Note 6 - Contingent Consideration Receivable | 12 Months Ended
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Dec. 31, 2011
Contingent Consideration Receivable [Text Block] | Note 6 – Contingent Consideration Receivable As a result of a transaction between Ante4, Inc. (Ante4”) and Peerless Media Ltd. (“Buyer”) during fiscal year 2009, pursuant to which, Ante4 sold substantially all of its operating assets (the “Transaction”), Ante5, Inc. (the “Company”), as a result of the spin-off on April 16, 2010, is entitled to receive, in perpetuity, 5% of gross gaming revenue and 5% of other revenue of the Buyer generated by Ante4’s former business and assets that were sold to Buyer in the Transaction, subject to a 5% commission presented as Royalties Payable on the balance sheet. Buyer has guaranteed a minimum payment to us of $3 million for such revenue over the three-year period following the closing of the Transaction on November 2, 2009. The Company prepared a discounted cash flow model to determine an estimated fair value of this portion of the purchase price as of November 2, 2009. This value was recorded on the balance sheet of Ante4. In connection with the spin-off described above, on April 16, 2010 Ante4 distributed this asset to its wholly-owned subsidiary, Ante5, Inc., which was spun-off and a registration statement was filed on Form 10-12/A, along with an Information Statement with the Securities and Exchange Commission for the purpose of spinning off the Ante5 shares from Ante4, Inc. to its stockholders of record on April 15, 2010. We performed an impairment analysis as of December 31, 2010 which necessitated a write down and realization of an $878,650 valuation allowance, along with a corresponding adjustment of $80,057 to royalties payable. The net amount resulted in the recognition of $798,593 of bad debt expense in the operating expense section of the statement of operations for the period from April 9, 2010 (inception) to December 31, 2010. The following is a summary of the contingency consideration receivable and related royalties payable at December 31, 2011:
|  | Contingent |  |  |  |  |  | Net Contingent |
|  | Consideration |  |  | Royalties |  |  | Consideration |
|  | Receivable |  |  | Payable |  |  | Receivable |
Balance spun-off, |  |  |  |  |  |  |  |  |
April 16, 2010: |  | $ | 7,532,985 |  |  | $ | (415,000 | ) |  | $ | 7,117,985 |
Net royalties received and |  |  |  |  |  |  |  |  |  |  |  |
Commissions paid |  |  | (182,335 | ) |  |  | 11,343 |  |  |  | (170,992 | )
Fair value adjustment |  |  | (878,650 | ) |  |  | 80,057 |  |  |  | (798,593 | )
Balance, December 31, 2010 |  |  | 6,472,000 |  |  |  | (323,600 | ) |  |  | 6,148,400 |
Net royalties received and |  |  |  |  |  |  |  |  |  |  |  |
Commissions paid |  |  | (463,398 | ) |  |  | 23,169 |  |  |  | (440,229 | )
Balance, December 31, 2011 |  | $ | 6,008,602 |  |  | $ | (300,431 | ) |  | $ | 5,708,171 |
The Company estimated its current portion of the contingent consideration receivable to be $2,309,752 based on the guaranteed minimum payment to us of $3 million, less payments previously received due on November 2, 2012.

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- Definition Discussion of contingent consideration receivable + References No definition available. + Details
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