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PROPERTY AND EQUIPMENT

3 Months Ended

Mar. 31, 2014

Note 5. PROPERTY AND EQUIPMENT

The components of property and equipment at March 31, 2014 and December 31, 2013 consisted of the following:

	March 31,	December 31,
	2014	2013
	(Unaudited)
Machinery and Equipment	$ 6,360,000	$ 6,251,000	5 - 8 years
Capital Lease Machinery and Equipment	5,261,000	5,261,000	5 - 8 years
Tools and Instruments	5,083,000	5,009,000	1.5 - 7 years
Automotive Equipment	59,000	59,000	5 years
Furniture and Fixtures	257,000	257,000	5 - 8 years
Leasehold Improvements	646,000	646,000	Term of Lease
Computers and Software	361,000	357,000	4-6 years
Total Property and Equipment	18,027,000	17,840,000
Less: Accumulated Depreciation	(11,869,000)	(11,317,000)
Property and Equipment, net	$ 6,158,000	$ 6,523,000

Depreciation expense for the three months ended March 31, 2014 and 2013 was approximately $552,000 and $403,000, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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