PROPERTY, PLANT, AND EQUIPMENT

9 Months Ended

Nov. 30, 2013

PROPERTY, PLANT, AND EQUIPMENT [Abstract]

NOTE 5 – PROPERTY, PLANT, AND EQUIPMENT

Property, plant, and equipment consisted of the following:

	November 30, 2013			February 28, 2013

Machinery and equipment	$	964,111		$	964,111
Furniture and fixtures		163,302			163,302
Leasehold improvements		-			485,080
		1,127,413			1,612,493
Less accumulated depreciation		(1,115,466	)		(1,572,023	)
Property, plant and equipment, net	$	11,947		$	40,470

Depreciation expense was $28,523 and $125,783 for the Nine Months ended November 30, 2013 and November 30, 2012, respectively. The Company disposed of all of its leasehold improvements in the third quarter when we moved to a new facility. The assets were fully amortized and there was no gain or loss on the disposition.

- 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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