The Company’s intangible assets consist of licenses for the use of Internet domain names, Universal Resource Locators, or URLs, capitalized website development costs, other information technology licenses, a covenant not to compete, and marketing and technology related intangibles acquired through the acquisition of LiveDeal, Inc. In addition as a result of the acquisition of MEI, the Company recorded goodwill of $1,169,904. All such assets are capitalized at their original cost and amortized over their estimated useful lives as follows: domain name and marketing - 3 to 20 years; website and technology - 3 to 5 years; and covenant not to compete – 4 years. Goodwill is not amortized, but evaluated for impairment on at least an annual basis.

Based in part on a third party appraisal of the Company’s long-lived assets, the Company determined that no impairment of its long-lived intangible assets existed at September 30, 2014 and 2013.

The following summarizes estimated future amortization expense related to intangible assets that have net balances as of September 30, 2014:

Total amortization expense related to intangible assets was $441,978 and $234,751 for the years ended September 30, 2014 and 2013, respectively.