Quarterly report pursuant to Section 13 or 15(d)

DEFINITE-LIFE INTANGIBLE ASSETS

DEFINITE-LIFE INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2013

NOTE 4 - DEFINITE-LIFE INTANGIBLE ASSETS

Definite-life intangible assets at March 31, 2013 and December 31, 2012 consist of the following:

		March 31, 2013		December 31, 2012
		(Unaudited)
Patent applications pending	$	14,501	$	14,501
Less: Accumulated amortization		(14,501)		(8,267)

	$	0	$	6,234

The Company’s definite-life intangible assets are amortized, upon being placed in service, over the estimated useful lives of the assets, with no residual value. Amortization expense for the three months ended March 31, 2013 and 2012 were $ - 0 - and $242, respectively. As of March 31, 2013, the Company’s management decided to take an impairment charge of $6,234 representing the unamortized basis of the patents related to, the creation and production of its product, ProAlgaZyme which is no longer producing revenue. The writeoff of the impairment loss has been included in General and Administrative Expenses on the Statement of Operations for the three months ended March 31, 2013.

- Definition

The entire disclosure for all or part of the information related to intangible assets.

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