Property and Equipment

12 Months Ended

Dec. 31, 2012

5. Property and Equipment

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

	December 31,
	2012			2011
Machinery and equipment	$	22,863,921		$	10,429,816
Furniture and fixtures		1,274,477			840,350
Leasehold improvements		28,195,345			12,421,398
Construction in progress		42,270			27,159,066
Subtotal		52,376,013			50,850,630
Less accumulated depreciation		(17,263,032	)		(14,380,752	)
Total	$	35,112,981		$	36,469,878

Depreciation expense was $2,496,749, $1,816,188 and $1,308,713 for the years ended December 31, 2012, 2011 and 2010, 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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