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Equipment

6 Months Ended

Jun. 30, 2013

3. Equipment

At June 30, 2013 and December 31, 2012, equipment, furniture and fixtures were comprised of the following:

	June 30, 2013 (unaudited)			December 31, 2012
Equipment, furniture and fixtures	$	2,851,456		$	2,098,812
Accumulated depreciation		(1,010,203	)		(750,258	)
Equipment, net	$	1,841,253		$	1,348,554

Depreciation expense amounted to $253,215and $183,981 for the six months ended June 30, 2013 and 2012, respectively. The difference of $6,730 between the depreciation expense recognized in the condensed consolidated statement of operations and the increase in accumulated depreciation of $259,945 per the condensed consolidated balance sheet is primarily attributable to the impact of foreign currency conversion rates for the depreciation of assets held by foreign subsidiaries.

- 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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