Note 3 - Other Assets

9 Months Ended

Sep. 30, 2011

Other Assets Disclosure [Text Block]

3.  Other Other Assets

Other assets increased from December 31, 2010 to September 30, 2011 due to the purchase of selected assets of Progear Holdings, Inc. (d/b/a Yes! Golf).  On January 20, 2011, weacquired certain assets of Progear Holdings, Inc. (d/b/a Yes! Golf) (“Yes! Golf”)  for $1.65 million, including administrative fees, pursuant to a U.S. Bankruptcy Court bulk auction sale.  The purchased assets of Yes! Golf included, among other things, the following: (i) patented putter technology designs, including Yes! Golf’s line of “C-Groove Putters,” (ii) registered trademarks and (iii) existing inventory and capital equipment.  The Company did not assume any of Yes! Golf’s liabilities in connection with the acquisition.  Intangibles acquired in the Yes! Golf acquisition are being amortized over an estimated useful life of 15 years.  Other assets includes $1.4 million of patent and trademark rights acquired in the Yes! Golf acquisition and $0.7 million from other acquisitions.  Total accumulated amortization of intangibles is $0.7 million.

	September 30,		December 31,
	2011		2010
	(unaudited)
Intangible assets	$	1,458	$	108
Other assets		21		26
Total other assets	$	1,479	$	134

Amortization expense for the nine months ended September 30, 2011 was approximately $152,000.  Estimated amortization expense for the fourth quarter of 2011 and each of the following five years is:

Fourth quarter ending December 31, 2011	$	53,300
Years ending December 31,
2012		121,700
2013		113,400
2014		113,400
2015		113,400
Thereafter		942,400
Total	$	1,457,600