Property and Equipment (Net of Accumulated Depreciation)

12 Months Ended

Dec. 31, 2012

Notes to Financial Statements

Property and Equipmentr (Net of Accumulated Depreciation)

NOTE 5 – PROPERTY AND EQUIPMENT, NET

Property and equipment consist of the following:

	Year ended December 31
	2012			2011
Furniture, fixtures, leasehold improvements, computer and office equipment	$	2,647,971		$	2,369,180
Accumulated depreciation and amortization		(1,791,121	)		(2,138,399	)
Net property and equipment	$	856,850		$	230,781

Depreciation is computed using straight line methods over 3 to 7 years. Amortization of leasehold improvements are computed using the shorter of the useful life of the leasehold improvements or the remaining years of the lease. Depreciation and amortization expense for the years ended December 31, 2012, 2011 and 2010, are $139,293, $59,483 and $127,371, respectively.