Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

3 Months Ended

Mar. 31, 2012

5. 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	March 31, 2012			December 31, 2011

Vehicles	5 years	$	300,370		$	300,370
Furniture and Fixtures	10 years		64,540			60,936
Computers	5 years		191,648			191,206
MFG equipment	10 years		4,011,872			3,967,302
Lab Equipment	10 years		988,122			821,639
Bldg/Leasehold	19 years (remainder of lease)		1,635,378			1,608,055
Building	40 years		571,141			571,141
Land	Not depreciated		380,000			380,000
			8,143,071			7,900,649
Accumulated depreciation			(4,658,774	)		(4,558,202	)
Net		$	3,484,297		$	3,342,447

- 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