SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: PROPERTY AND EQUIPMENT- (Policies)

12 Months Ended

Dec. 31, 2012

Policies

PROPERTY AND EQUIPMENT-

PROPERTY AND EQUIPMENT

Depreciation is computed primarily on the straight-line method for financial statements purposes over the following estimated useful lives:

Category	Estimated Life
Office building	20 years
Vehicles	7 years
Equipment	7 years
Leasehold Improvements	7 years
Furniture and Fixtures	5 years

All assets are booked at historical cost. Management reviews on an annual basis the book value, along with the prospective dismantlement, restoration, and abandonment costs and estimate residual value for the assets, in comparison to the carrying values on the financial statements.