Intangible Assets

9 Months Ended

Sep. 30, 2011

Intangible Assets

4. Intangible Assets

The following table is a summary of intangible assets as of September 30, 2011:

Customer relationships	$	693,335
Less: accumulated amortization		(66,033	)
Intangible assets, net	$	627,302

The Company’s amortizable intangible assets consist of customer relationships which resulted from the acquisition of Hocks.com (see note 11) and are being amortized on a straight-line basis over their estimated useful life of seven years. Amortization expense for the three and nine months ended September 30, 2011 was $24,763 and $66,033, respectively.

The following is a summary of amortization expense for the next five years and thereafter:

Year ending December 31,
2011	$	24,762
2012		99,048
2013		99,048
2014		99,048
2015		99,048
Thereafter		206,348
	$	627,302