Property and Equipment

12 Months Ended

Dec. 31, 2012

3.	Property and Equipment

Property and equipment as of December 31, 2012 and 2011 consisted of the following:

	2012		2011
Equipment	$	1,171,900	$	1,077,200
Furniture		380,200		236,000
Leasehold improvements		147,500		23,000
		1,699,600		1,336,200
Less: accumulated depreciation and amortization		1,340,700		1,292,300
	$	358,900	$	43,900

Aggregate property and equipment depreciation expense for the years ended December 31, 2012 and 2011 was $93,600 and $51,600, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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