Property and Equipment

6 Months Ended

Jun. 30, 2013

3. Property and Equipment

Property and equipment was:

	June 30, 2013		December 31, 2012
Equipment	$	1,219,900	$	1,171,900
Furniture		380,200		380,200
Leasehold improvements		147,500		147,500
		1,747,600		1,699,600
Less: accumulated depreciation and amortization		1,393,100		1,340,700
	$	354,500	$	358,900

Aggregate property and equipment depreciation and amortization expense was $27,000 during the three-month period ended June 30, 2013 and $52,400 during the six-month period ended June 30, 2013. During the six-month period ended June 30, 2013, we capitalized the following costs: equipment; $48,000.

- 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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