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EXCEL - IDEA: XBRL DOCUMENT - VISION DYNAMICS CorpFinancial_Report.xls
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EX-21 - EXHIBIT 21 SUBSIDIARIES - VISION DYNAMICS Corpsubsidiaries_ex21.htm
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v2.4.0.6
Intangible Assets
12 Months Ended
Dec. 31, 2011
Intangible Assets  
Intangible Assets

Note 8.  Intangible Assets

 

Intangible assets consist of intellectual property rights of an exclusive license to several patent pending inventions surrounding our core technologies.  Intangible assets are tested on an annual basis for impairment or on an interim basis if an event occurs or circumstances change that would reduce the fair value of a reporting unit below its carrying value.  Intangible assets with estimable useful lives and those assets with defined lives due to the legal nature of the asset are amortized over their estimated useful lives, 8 years, using the straight-line method.

 

Intangible assets consisted of the following at December 31, 2011 and December 31, 2010:

 

 

 

December 31,

 

December 31,

 

 

2011

 

2010

Intangible Assets, net:

 

 

 

 

License

$

50,525

$

41,997

  Less: Amortization

 

(5,672)

 

(402)

Total

$

44,853

$

41,595

 

To date, the Company has not utilized its current intellectual properties to manufacture products/parts for sale, testing and evaluation. When/if we do begin to mass produce products, we will re-evaluate our amortization practice related to these intellectual properties. During the year ended December 31, 2011 and 2010 the Company recorded $5,270 and $402, respectively, in amortization expense. At this time, estimated future amortization for the following fiscal years ended on December 31 amortization expense is expected to be as follows:

 

For the year ending

 

Amount

2012

$

6,316

2013

 

6,316

2014

 

6,316

2015

 

6,316

2016

 

6,316

Thereafter

 

13,275