XML 56 R14.htm IDEA: XBRL DOCUMENT

9. FIXED ASSETS

3 Months Ended

Dec. 31, 2014

Fixed assets, net of accumulated depreciation, was $426,255 and $447,236 as of December 31, 2014 and September 30, 2014, respectively. Accumulated depreciation was $762,248 and $742,676 as of December 31, 2014 and September 30, 2014, respectively. Total depreciation expense, was $19,571 and $12,794 for the three months ended December 31, 2014 and 2013, respectively. All equipment is used for selling, general and administrative purposes and accordingly all depreciation is classified in selling, general and administrative expenses.

Property and equipment as of December 31, 2014 was comprised of the following:

	Estimated	December 31, 2014
	Useful Lives	Purchased			Capital Leases			Total
Machinery and equipment	2-10 years	$	210,922		$	87,038		$	297,960
Leasehold improvements	5-20 years		603,612			-			603,612
Furniture and fixtures	3-10 years		77,039			101,260			178,299
Software and websites	3- 7 years		63,783			44,849			108,632
Less: accumulated depreciation			(533,265	)		(228,983	)		(762,248	)
		$	422,091		$	4,164		$	426,255

- 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.

+ References+ Details