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PROPERTY AND EQUIPMENT

12 Months Ended

Feb. 29, 2012

Notes to Financial Statements

PROPERTY AND EQUIPMENT

NOTE 4: PROPERTY AND EQUIPMENT

The following is a summary of property and equipment at February 29, 2012 and February 28, 2011:
		February 29,				February 28,
		2012				2011
Tooling		$	233,138			$	163,659
Equipment			45,203				43,555
Vehicles			13,000				-
Computer equipment			28,672				26,933
Leasehold equipment			11,129				3,218
			331,142				237,365
Less: accumulated depreciation			(159,838	)			(138,388	)
		$	171,304			$	98,977

Fixed assets outside the United States included $170,197 and $109,507 in tooling and equipment, at cost, located in China with a third party to manufacture the Company’s component parts at February 29, 2012 and February 28, 2011, respectively. Depreciation expense included in cost of sales was $31,363 and $36,294 for the fiscal years ended February 29, 2012 and February 28, 2011 respectively. Depreciation expense included in operating expense was $6,186 and $4,740 for the fiscal years ended February 29, 2012 and February 28, 2011, 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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