Other Assets

9 Months Ended

Sep. 30, 2012

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

6.      Other Assets

Other assets consisted of the following as of September 30, 2012 and December 31, 2011:

	2012		2011
White label licensing and websites	$	-	$	17,560
Investment in joint venture		31,328		-
	$	31,328	$	17,560

Websites development, net

On April 19, 2010, the Company entered into a Software Licensing Agreement whereby the Company licensed proprietary trading software (the “Software”) for the purpose of developing a Forex Trading Platform and introducing prospective clients (“End Users”).  In return, the Company received a newly created website, at cost of $105,359.  The cost of the website includes the vendor’s normal set-up fee plus payroll costs and consulting fees incurred by the Company relating to the development of internal use software.  The total cost of $105,359 cost was capitalized and is being amortized over a 2-year life. At September 30, 2012, the asset has been fully amortized. Amortization expense amounted to $17,560 and $39,510 for the nine months ended September 30, 2012 and 2011, respectively.

Investment in Joint Venture

On February 13, 2012, Direct JV Investments Inc (“Direct JV”), a wholly-owned subsidiary of the Company (“Direct JV”), entered into a Joint Venture Agreement with Vulcan Oil & Gas Inc. (“Vulcan”), whereby the Company will from time to time provide financing to certain Vulcan alternative, green and solar energy projects (the “Projects”) with the goal of sharing in any rebates awarded by the government on any of the Projects.  For all the Projects in the U.S. residential market, profits and losses of each of the Projects will be allocated at the conclusion of each fiscal year at a ratio of 60% to Vulcan and 40% to the Company.  For all other projects, the profit and loss allocation will be determined on a case by case basis.  There is no guarantee that the Projects will generate any revenues. As of September 30, 2012, Direct JV advanced Vulcan $31,328 per the agreements on specific projects.

On September 30, 2012, Vulcan entered into a cooperative joint venture with two other companies to forrn the entity Project Day4 Marketing (“PD4M”), Vulcan’s share of PD4M’s profits and losses is 40%. Per the joint venture agreement formed between the Company and Vulcan, the Company’s share of Vulcan’s profits and losses is 40%. Therefore, the Company’s share of the profits and losses for PD4M is 16%.

The Company had no income or loss from the joint ventures for the nine months ended September 30, 2012.