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Intangible Assets, Goodwill and Other
3 Months Ended
Mar. 31, 2012
Goodwill and Intangible Assets Disclosure  
Goodwill and Intangible Assets Disclosure

NOTE 6 - INTANGIBLE ASSETS

 

At March 31, 2012 and December 31, 2011, intangible assets consisted of customers’ lists arising from the acquisition of LiKang Biological, amortized over 5 years. Net intangible assets as of March 31, 2012 and December 31, 2011 totaled $282,506 and $0, respectively. Amortization expenses for the three months ended March 31, 2012 and 2011 were $25,682 and $0, respectively. Annual amortization expenses for the next five years from March 31, 2012 are expected to be: $102,730, $102,730, $77,046, and none after the third year.