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Property and Equipment

3 Months Ended

Mar. 31, 2013

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

5.

Property and Equipment

Major classes of property and equipment consisted of the following:

		MARCH 31,				DECEMBER 31,
		2013				2012
		(Unaudited)
Land and building		$	677,054			$	677,054
Computer hardware and software			1,647,727				1,544,233
Furniture and fixtures			214,511				214,000
Leasehold improvements			368,596				368,596
Automobile			2,400				2,400
Gross property and equipment			2,910,288				2,806,283
Less: accumulated depreciation and amortization			(1,466,762	)			(1,377,960	)

Property and equipment, net		$	1,443,526			$	1,428,323

There were no changes in the estimated life used to depreciate property and equipment for the three months ended March 31, 2013 or 2012. For the three months ended March 31, 2013 and 2012 property and equipment depreciation expense recorded was approximately $88,800 and $90,900, respectively. For the three months ended March 31, 2013 and 2012, there were no material sales or disposals of owned property and equipment.

Included in property and equipment are certain equipment purchases acquired under capital lease arrangements. For the three months ended March 31, 2013 and 2012, the Company did not enter into any capital lease arrangements. See Note 7 for additional information about historical capital lease obligations. Total capitalized cost of equipment under capital leases at March 31, 2013 and December 31, 2012 was approximately $477,500, respectively. For the three months ended March 31, 2013 and 2012 depreciation expense for leased equipment was approximately $14,700 and $12,700, respectively. Accumulated depreciation for leased equipment at March 31, 2013 and December 31, 2012 was approximately $364,900 and $350,200, respectively. For the three month period ended March 31, 2013 and 2012, there were no disposals of leased equipment. Total net book value of assets under capital leases at March 31, 2013 and December 31, 2012 was approximately $112,600 and $127,300, respectively.

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.

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