Quarterly report pursuant to sections 13 or 15(d)

INTELLECTUAL PROPERTY AND INTANGIBLE ASSETS (Tables)

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INTELLECTUAL PROPERTY AND INTANGIBLE ASSETS (Tables)
 6 Months Ended
Jun. 30, 2012
Notes to Financial Statements  
Schedule of Intellectual property and intangible assets
    June 30, 2012   December 31, 2011
Intellectual property   $ 16,355,967     $ 16,355,967  
Territory     150,000       150,000  
Non-compete     660,000       660,000  
Customer relationships     3,400,000       3,400,000  
      20,565,967       20,565,967  
Less: Accumulated amortization     (1,240,551 )     (454,204 )
    $ 19,325,416     $ 20,111,763  
Schedule of Asset Purchase Agreement Assets
Asset   Fair Value
Trademarks   $ 2,740,000  
Patents     13,259,000  
Goodwill     1,091,000  
Non-compete agreement     660,000  
Customer relationships     3,400,000  
Total   $ 21,150,000