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Property and Equipment

12 Months Ended

Dec. 31, 2014

Property and equipment consist of the following:

	December 31,						Estimated
	2014			2013			Useful Life

Computer Software	$	230,299		$	230,299		5 years
Equipment		544,108			544,108		15 years
Office Furniture and Equipment		95,754			95,754		7 years
Computer Hardware		30,710			27,746		5 years
Leasehold Improvements		303,318			303,318		(a)
Total		1,204,189			1,201,225
Less: accumulated depreciation		(692,903	)		(576,591	)
Property and Equipment, Net	$	511,286		$	624,634

(a) Lesser of useful life or initial term of lease

Depreciation expense for the above assets for the years ended December 31, 2014 and 2013 was $116,312 and $143,387, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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