Property and Equipment

12 Months Ended

Dec. 31, 2011

5. Property and Equipment

Property and equipment is stated at cost and consists of the following:

	December 31,
	2011			2010
Machinery and equipment	$	10,429,816		$	9,972,821
Furniture and fixtures		840,350			640,931
Leasehold improvements		12,421,398			12,074,288
Construction in progress		27,159,066			27,008,949
Subtotal		50,850,630			49,696,989
Less accumulated depreciation		(14,380,752	)		(12,715,595	)
Total	$	36,469,878		$	36,981,394

Depreciation expense was $1,816,188, $1,308,713 and $1,234,644 for the years ended December 31, 2011, 2010 and 2009, 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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