Note 5 - Property and Equipment

9 Months Ended

Sep. 30, 2012

Note 5 - Property and Equipment

Property and equipment consist of the following as of September 30, 2012 and December 31, 2011:

	September 30,	December 31,
	2012	2011

Automobile	$ 148,341	$ 145,121
Furniture and fixture	14,270	-
Leasehold improvement	1,100	-
Machinery and equipment	1,351,942	1,317,559
Property and Equipment - Gross	1,515,653	1,462,680
Less: Accumulated depreciation	(682,661)	(189,761)
Net property and equipment	$ 832,992	$ 1,272,919

Depreciation expense amounted to $492,900 and $0 for the nine months ended September 30, 2012 and 2011, 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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