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Equipment

12 Months Ended

Dec. 31, 2013

4. Equipment

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

	2013			2012
Equipment, furniture and fixtures	$	4,431,586		$	2,098,812
Accumulated depreciation		(1,433,853	)		(750,258	)
Equipment net of accumulated depreciation	$	2,997,733		$	1,348,554

Depreciation expense amounted to $656,759 and $386,457 for the years ended December 31, 2013 and 2012, respectively. The difference between the depreciation expense recognized in the consolidated statement of operations and the increase in accumulated depreciation of $683,595 per the consolidated balance sheet is partially attributed to a write off of $1,500 of fully depreciated assets offset by foreign currency rates.

- 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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