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Note 8 - Goodwill and Intangible Assets

3 Months Ended

May 31, 2012

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 8 – GOODWILL AND INTANGIBLE ASSETS

Intangible assets at May 31, 2012 and February 29, 2012 consist of the following:

		May 31, 2012				February 29, 2012
	Amortization Period	Gross Carrying Value		Accumulated Amortization		Gross Carrying Value		Accumulated Amortization
Intangible assets subject to amortization
Store design	10 Years	$	205,777	$	201,952	$	205,777	$	200,445
Packaging licenses	3-5 Years		120,830		120,830		120,830		120,830
Packaging design	10 Years		430,973		430,973		430,973		430,973
Aspen Leaf Yogurt Design	10 Years		19,740		3,948		19,740		2,961
Total			777,320		757,703		777,320		755,209
Intangible assets not subject to amortization
Franchising segment-
Company stores goodwill			1,099,328		267,020		1,099,328		267,020
Franchising goodwill			295,000		197,682		295,000		197,682
Manufacturing segment-Goodwill			295,000		197,682		295,000		197,682
Trademark			20,000		-		20,000		-
Total			1,709,328		662,384		1,709,328		662,384

Total intangible assets		$	2,486,648	$	1,420,087	$	2,486,648	$	1,417,593

Amortization expense related to intangible assets totaled $2,494 and $15,428 during the three months ended May 31, 2012 and 2011, respectively. The decrease in amortization expense is primarily the result of some assets becoming fully amortized. The aggregate estimated amortization expense for intangible assets remaining as of May 31, 2012 is as follows:

2013	$	6,150
2014		4,600
2015		3,950
2016		3,950
2017		967
Total	$	19,617

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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