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Current report filing

Intangible Assets

v2.4.0.6
Intangible Assets
 12 Months Ended
Dec. 31, 2011
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

Note 6. Intangible Assets

 

Intangible assets consisted of the following at December 31, 2011 and December 31, 2010:

 

    December 31, 2011     December 31, 2010  
Course curricula   $ 2,072,238     $ 2,018,147  
Call center     927,455       -  
      2,999,693       2,018,147  
Accumulated amortization     (1,762,697 )     (1,523,986 )
Intangible assets, net   $ 1,236,996     $ 494,161  


The following is a schedule of estimated future amortization expense of intangible assets as of December 31, 2011:

 

 Year Ending December 31,      
2012   $ 325,461  
2013     300,420  
2014     258,188  
2015     220,047  
2016     132,880  
Total   $ 1,236,996  


Amortization expense for the years ended December 31, 2011 and 2010 was $238,711 and $294,955, respectively.

 

During 2010, the Company acquired an aggregate of $52,000 of courseware curricula from an entity owned by the brother of the former Chairman of the Company (See Note 15).