Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS, NET (Tables)

v2.4.0.6
INTANGIBLE ASSETS, NET (Tables)
 9 Months Ended
Sep. 30, 2012
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets and Goodwill [Table Text Block]

The Company is amortizing these costs from the opening of each restaurant for the 20 year term of the franchise agreement with HOA.

 

    2012     2011  
             
Goodwill   $ 396,487     $ 396,487  
                 
Franchise cost:                
                 
South Africa   $ 345,386     $ 330,388  
Brazil     135,000       -  
Hungary     75,000       -  
      555,386       330,388  
Accumulated amortization     (18,681 )     (5,304 )
      536,705       325,084  
Intangible assets, net   $ 933,192     $ 721,571  
                 
Three months ended September 30, 2012 and 2011:                
                 
Amortization expense   $ 5,126     $ -  
                 
Nine months ended September 30, 2012 and 2011:                
                 
Amortization expense   $ 13,377     $ -