Intangible property consists of website development costs for the purpose of our on-line presence and marketing. As of December 31, 2013:
December 31, 2013 | ||||
Website development costs | $ | 10,471 | ||
Less accumulated amortization | - | |||
$ | 10,471 |
Commencing in January 2014, the first period of operation, we will amortize costs over a three (3) year period, the useful life. Amortization expense was $0 for the period May 28, 2013 (date of inception) through December 31, 2013. Future amortization will be $1,490 for the years 2014 through 2016.