8. INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2013

Intangible Assets Disclosure [Text Block]

8. INTANGIBLE ASSETS

A schedule of intangible assets is as follows:

	Gross		Accumulated		Carrying
March 31, 2013 (unaudited)	Amount		Amortization		Amount
Trademarks:
Wholesale	$	27,243,578	$	-	$	27,243,578
Retail		2,900,000		-		2,900,000
Patents		2,521,304		2,174,082		347,222
Customer relationships		1,000,000		1,000,000		-
Total Identified Intangibles	$	33,664,882	$	3,174,082	$	30,490,800

December 31, 2012
Trademarks:
Wholesale	$	27,243,578	$	-	$	27,243,578
Retail		2,900,000		-		2,900,000
Patents		2,516,402		2,161,178		355,224
Customer relationships		1,000,000		1,000,000		-
Total Identified Intangibles	$	33,659,980	$	3,161,178	$	30,498,802

March 31, 2012 (unaudited)
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

Amortization expense for intangible assets was $12,903 and $12,343 for the three months ended March 31, 2013 and 2012, respectively. The weighted average amortization period for patents is 15 years.

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

2014	$	50,584
2015		50,009
2016		47,235
2017		42,667
2018		36,523