Annual report pursuant to Section 13 and 15(d)

Property and equipment

Property and equipment

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

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.

- 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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