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Property and Equipment

3 Months Ended

Dec. 31, 2014

Property and equipment as of December 31, 2014 and September 30, 2014, were as follows:

	December 31,			September 30,
	2014			2014
Equipment, software and tooling	$	2,751,312		$	2,571,450
Automobiles		33,466			33,466
Leasehold improvements		1,316,120			1,294,386
Furniture and fixtures		266,909			253,466
Total property and equipment before accumulated depreciation		4,367,807			4,152,768
Accumulated depreciation		(2,486,779	)		(2,292,521	)
Property and equipment, net of accumulated depreciation	$	1,881,028		$	1,860,247

Depreciation expense for the three months ended December 31, 2014 and 2013 was $170,907 and $47,175, respectively. Property and equipment to be disposed of is reported at the lower of the carrying amount or fair value, less the estimated costs to sell the property. Any gains or losses are recognized in the results of operations. During the three months ended December 31, 2014 the Company did not dispose of property and equipment.

- 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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