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Property and Equipment

3 Months Ended

Mar. 31, 2012

The net carrying value of property and equipment consisted of the following as of:

	March 31, 2012			December 31, 2011
	(unaudited)
Furniture and fixtures	$	427,121		$	427,121
Equipment		2,233,795			2,005,505
Software		7,399,680			5,469,804
Leasehold improvements		343,795			310,416
Subtotal		10,404,391			8,212,846
Less: accumulated depreciation and amortization		(7,065,141	)		(6,622,835	)
Total	$	3,339,250		$	1,590,011

Depreciation and amortization expenses related to property and equipment for the three months ended March 31, 2012 and 2011 was approximately $330,000 and $415,000, respectively. Depreciation is included in selling, general and administrative expenses in the accompanying consolidated statements of comprehensive loss.

- Definition

Tabular disclosure of the useful life and salvage value of 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.

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