Quarterly report pursuant to sections 13 or 15(d)

INTELLECTUAL PROPERTY AND INTANGIBLE ASSETS (Tables)

v2.4.0.6
INTELLECTUAL PROPERTY AND INTANGIBLE ASSETS (Tables)
 3 Months Ended
Mar. 31, 2013
Notes to Financial Statements  
SCHEDULE OF INTELLECTUAL PROPERTY AND INTANGIBLE ASSETS
    March 31, 2013   December 31, 2012
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     (2,412,777 )     (2,015,551 )
    $ 18,153,190     $ 18,550,416  
SCHEDULE OF ASSET PURCHASE AGREEMENT ASSETS
    Fair Value
Patents   $ 13,259,000  
Customer relationships     3,400,000  
Trademarks     2,740,000  
Goodwill     1,091,000  
Non-compete agreement     660,000  
     Total   $ 21,150,000