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Re: Cassandra post# 4469

Wednesday, 04/18/2012 10:59:24 PM

Wednesday, April 18, 2012 10:59:24 PM

Post# of 6144
The remaining $22,880 was determined to be impaired due to uncertainties in the realization of a future economic benefit from the patents, and was expensed on December 31, 2011. This acquisition established Wytec International, Inc. as a wholly-owned subsidiary of Competitive Companies, Inc. and was accounted for as an asset purchase, given that Wytec’s sole assets consisted of the patent agreements

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