TANGIBLE FIXED ASSETS

6 Months Ended

Jun. 30, 2014

6. TANGIBLE FIXED ASSETS

2014 (in USD)	Office equipment & furniture	Vehicles	Leasehold improvements	Computer software	Total
Cost at Dec 31, 2013	157,717	140,366	47,375	35,697	381,155
Additions	6,262	-	3,747	680	10,689
Disposals	-	-	-	-	-
Cost at June 30, 2014	163,979	140,366	51,122	36,377	391,844
Accumulated depreciation at Dec 31, 2013	(124,364)	(55,567)	(47,375)	(21,474)	(248,780)
Depreciation	(5,557)	(9,549)	(303)	(8,861)	(24,270)
Disposals	-	-	-	-	-
Accumulated depreciation at June 30, 2014	(129,921)	(65,116)	(47,678)	(30,335)	(273,050)
Net book value at Dec 31, 2013	33,353	84,799	-	14,223	132,375
Net book value at June 30, 2014	34,058	75,250	3,444	6,042	118,794

Depreciation expense for the six month period ended June 30, 2014 and 2013 was USD24,270 and USD25,788 respectively. Depreciation for the three month period ended June 30, 2014 and 2013 was USD12,120 and USD13,858 respectively.

- 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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