PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2012

6. PROPERTY AND EQUIPMENT

Major classes of property and equipment, stated at cost, as of December 31, 2012 and 2011 are as follows:

	2012			2011

Leasehold Improvements	$	463,080		$	446,164
Machinery and Equipment		6,046,055			5,848,306
Information Technology & Office Equipment		1,911,493			1,921,668
Laboratory Equipment		505,883			508,929
Transportation Equipment		383,711			417,493

		9,310,222			9,142,560
Accumulated Depreciation		(7,451,780	)		(6,852,084	)

Net Property and Equipment	$	1,858,442		$	2,290,476

Included in the table above are assets under capital lease obligations as follows:

	2012		2011

Assets under Capital Lease Obligations	$	34,086	$	84,832
Net Book Value of Assets under Capital Lease Obligations		11,557		29,269

Below is a summary of Depreciation expense by period:

		2012			2011			2010

Depreciation expense		$	920,368		$	1,141,545		$	1,341,472

- 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.

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