Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

9 Months Ended

Sep. 30, 2011

NOTE 4 – Property and Equipment

A summary of property and equipment and the estimated useful lives used in the computation of depreciation and amortization is as follows:

Fixed Asset	Useful Life	September 30, 2011			December 31, 2010

Vehicles	5 years		271,607			271,607
Furniture and Fixtures	10 years		68,462			66,195
Computers	5 years		156,439			142,978
MFG equipment	10 years		3,962,396			3,938,440
Lab Equipment	10 years		535,018			413,198
Bldg/Leasehold	19 years (remainder of lease)		1,548,909			1,545,758
Building	40 years		571,141			571,141
Land	Not depreciated		380,000			380,000
			7,493,972			7,329,317
Accumulated depreciation			(4,307,367	)		(4,067,184	)
Net			3,186,605			3,262,133

- 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.

+ References + Details