PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2013

NOTE 3 – PROPERTY AND EQUIPMENT

Property and equipment consist of the following as of December 31, 2013 and 2012:

	2013			2012
Computer equipment and purchased software (3 years)	$	1,361		$	5,056
Internally developed software not yet placed in service (3 years)		433			–
Furniture and fixtures and leasehold improvements (5 – 7 years)		146			91
		1,940			5,147
Less: accumulated depreciation and amortization		(1,088	)		(4,532	)
Property and equipment, net	$	852		$	615

Depreciation and amortization expense related to property and equipment for the years ended December 31, 2013 and 2012 was approximately $394,000 and $375,000, respectively.

- 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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