PROPERTY AND EQUIPMENT, NET

3 Months Ended

Mar. 31, 2012

PROPERTY AND EQUIPMENT, NET [Abstract]

At March 31, 2012 and December 31, 2011, property and equipment, net consists of the following:

	3/31/2012	12/31/2011
Production, engineering and other equipment	$6,702,194	$6,702,194
Leasehold improvements	2,904,188	2,904,188
Office equipment and furniture	603,182	603,182
Computer equipment and related software	140,238	140,238
	$10,349,802	$10,349,802
Accumulated depreciation	($7,336,680)	($7,160,804)
Property and equipment, net	$3,013,122	$3,188,998

Depreciation expense was $175,876 and $164,945 for the three months ended March 31, 2012 and March 31, 2011 respectively. During 2012, the company has not sold any equipment.

- 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.

+ References+ Details