Note 8 - Goodwill and Intangible Assets

3 Months Ended

May 31, 2013

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 8 – GOODWILL AND INTANGIBLE ASSETS

Intangible assets at May 31, 2013 and February 28, 2013 consist of the following:

				May 31, 2013				February 28, 2013
	Amortization Period (Years)			Gross Carrying Value		Accumulated Amortization		Gross Carrying Value		Accumulated Amortization
Intangible assets subject to amortization
Store design		10		$	205,777	$	205,301	$	205,777	$	205,142
Packaging licenses	3	-	5		120,830		120,830		120,830		120,830
Packaging design		10			430,973		430,973		430,973		430,973
Total					757,580		757,104		757,580		756,945
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 Goodwill					1,709,328		662,384		1,709,328		662,384
Franchise Rights					800,000		-		800,000		-
Total intangible assets				$	3,266,908	$	1,419,488	$	3,266,908	$	1,419,329

Amortization expense related to intangible assets totaled $159 and $2,494 during the three months ended May 31, 2013 and 2012, respectively. The decrease in amortization expense is primarily the result of some assets becoming fully amortized and Aspen Leaf Yogurt assets being sold. As of May 31, 2013 $476 net intangible assets subject to amortization remained to be amortized through FY 14.