8. INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2012

Intangible Assets Disclosure [Text Block]

8. INTANGIBLE ASSETS

A schedule of intangible assets is as follows:

	Gross		Accumulated		Carrying
March 31, 2012 (unaudited)	Amount		Amortization		Amount
Trademarks:
Wholesale	$	27,243,578	$	-	$	27,243,578
Retail		2,900,000		-		2,900,000
Patents		2,478,571		2,123,604		354,967
Customer relationships		1,000,000		1,000,000		-
Total Identified Intangibles	$	33,622,149	$	3,123,604	$	30,498,545

	Gross		Accumulated		Carrying
December 31, 2011	Amount		Amortization		Amount
Trademarks:
Wholesale	$	27,243,578	$	-	$	27,243,578
Retail		2,900,000		-		2,900,000
Patents		2,460,790		2,111,261		349,529
Customer relationships		1,000,000		1,000,000		-
Total Identified Intangibles	$	33,604,368	$	3,111,261	$	30,493,107

	Gross		Accumulated		Carrying
March 31, 2011 (unaudited)	Amount		Amortization		Amount
Trademarks:
Wholesale	$	27,243,578	$	-	$	27,243,578
Retail		2,900,000		-		2,900,000
Patents		2,443,398		2,074,951		368,447
Customer relationships		1,000,000		1,000,000		-
Total Identified Intangibles	$	33,586,976	$	3,074,951	$	30,512,025

Amortization expense for intangible assets was $12,343 and $12,165 for the three months ended March 31, 2012 and 2011, respectively.  The weighted average amortization period for patents is 15 years

Estimate of Aggregate Amortization Expense for the years ending December 31,:

2013	$	48,508
2014		47,735
2015		47,160
2016		44,386
2017		39,818