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2. Property and Equipment

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements

2. Property and Equipment

Note 2 - Property and Equipment

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

		June 30, 2012				December 31, 2011
		(unaudited)

Furniture and fixtures		$	427,121			$	427,121
Equipment			2,378,502				2,005,505
Software			7,751,757				5,469,804
Leasehold improvements			343,796				310,416
Subtotal			10,901,176				8,212,846
Less: accumulated depreciation and amortization			(7,758,455	)			(6,622,835	)
Total		$	3,142,721			$	1,590,011

Depreciation and amortization expense related to property and equipment for the three months ended June 30, 2012 and 2011 was approximately $527,000 and $391,000, respectively. Additionally, depreciation and amortization expense for the six months ended June 30, 2012 and 2011 was approximately $1,136,000 and $935,000, respectively. Depreciation and amortization is included in selling, general and administrative expenses in the accompanying consolidated statements of comprehensive loss.

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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