| Intangible Assets |
Intangible assets consisted of the following at September
30, 2012 and December 31, 2011:
| |
|
Septmber 30, 2012 |
|
|
December 31, 2011 |
|
| Course curricula |
|
$ |
2,097,038 |
|
|
$ |
2,072,238 |
|
| Call center |
|
|
1,321,950 |
|
|
|
927,455 |
|
| |
|
|
3,418,988 |
|
|
|
2,999,693 |
|
| Accumulated amortization |
|
|
(2,030,457 |
) |
|
|
(1,762,697 |
) |
| Intangible assets, net |
|
$ |
1,388,531 |
|
|
$ |
1,236,996 |
|
The following is a schedule of estimated future amortization expense of intangible assets as of September 30, 2012:
| Year Ending December 31, |
|
|
|
| 2012 |
|
$ |
393,478 |
|
| 2013 |
|
|
352,005 |
|
| 2014 |
|
|
313,418 |
|
| 2015 |
|
|
258,574 |
|
| 2016 |
|
|
71,056 |
|
| Total |
|
$ |
1,388,531 |
|
|