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PROPERTY AND EQUIPMENT

9 Months Ended

Sep. 30, 2013

4.	PROPERTY AND EQUIPMENT

Our property and equipment consist of the following:

	September 30, 2013			December 31, 2012

Leasehold improvements	$	15,141		$	15,141

Equipment		1,889,884			1,898,920

Furniture		5,333			5,333

Software		801,498			801,498

Total		2,711,856			2,720,892

Less accumulated depreciation and amortization		(2,677,207	)		(2,639,269	)

Net property and equipment	$	34,649		$	81,623

We review long-lived assets, including intangible assets subject to amortization, for possible impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable.

We annually assess the recoverability of such long-lived assets by determining whether the amortization of the balances over their remaining lives can be recovered through undiscounted future operating cash flows. The amount of impairment, if any, is measured based on projected discounted future operating cash flows. The assessment of the recoverability of long-lived assets will be impacted if estimated future operating cash flows are not achieved.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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