Property and Equipment

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

6. Property and Equipment

Major classes of property and equipment consisted of the following:

	DECEMBER 31
	2012			2011
Land and building	$	677,054		$	677,054
Computer hardware and software		1,544,233			1,419,711
Furniture and fixtures		214,000			202,591
Leasehold improvements		368,596			220,760
Automobile		2,400			-
Gross property and equipment		2,806,283			2,520,116
Less: accumulated depreciation and amortization		(1,377,960	)		(1,183,982	)
Property and equipment, net	$	1,428,323		$	1,336,134

For the years ended December 31, 2012 and 2011, depreciation expense recorded was approximately $400,160 and $334,700, respectively. For the year ended December 31, 2012 there were disposals of fully depreciated equipment with gross historical cost and accumulated depreciation of approximately $206,900 and $206,200, respectively. For the year ended December 31, 2011 there were disposals of fully depreciated equipment with gross historical cost and accumulated depreciation of approximately $69,100 and $67,000, respectively. For the years ended December 31, 2012 and 2011 there were no material sales of property and equipment.

The gross value of assets under capital leases at December 31, 2012 and 2011 was approximately $477,500 and $432,000, respectively. For the year ended December 31, 2012 we entered into an equipment capital lease agreement with a net present value of approximately $176,200. For the year ended December 31, 2012 there were disposals of certain expired equipment leases with a gross value and accumulated depreciation of approximately $130,700, respectively. For the years ended December 31, 2011 there were disposals of certain equipment leases with a gross value and accumulated depreciation of approximately $8,200 and $7,700, respectively.

Depreciation expense for leased equipment for the years ended December 31, 2012 and 2011 was approximately $66,700 and $43,000, respectively, and accumulated depreciation at December 31, 2012 and 2011 was $350,200 and $414,200, respectively. Total net book value of assets under capital leases at December 31, 2012 and 2011was approximately $127,300 and $17,800, respectively.