General form of registration statement for all companies including face-amount certificate companies

Property and Equipment

v2.4.0.6
Property and Equipment
9 Months Ended
Sep. 30, 2011
Notes to Financial Statements  
Property and Equipment

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