Annual report pursuant to Section 13 and 15(d)

Property and equipment

v2.4.0.6
Property and equipment
12 Months Ended
Dec. 31, 2012
Property, Plant and Equipment [Abstract]  
Property and equipment
Property and equipment
 
Property and equipment at December 31, 2012 and 2011 consisted of the following:
 
 
Estimated Useful
Life (in Years)
 
2012
 
2011
Machinery and equipment
5 - 7 years
 
$
478,290

 
$
355,985

Furniture and fixtures
5 years
 
54,058

 
48,157

Computer software
3 - 5 years
 
56,935

 
46,355

Leasehold improvements
*
 
326,366

 
245,441

 
 
 
915,649

 
695,938

Less - accumulated depreciation and amortization
 
 
(480,037
)
 
(310,159
)
Net property, plant and equipment
 
 
$
435,612

 
$
385,779


 
* Lesser of estimated useful life of asset or lease term
 
Depreciation and amortization expense on property and equipment for the years ended December 31, 2012 and 2011 was $169,878 and $134,295, respectively.