ºÃÉ«TV. Current report filing

Current report filing

Intangible Assets

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).