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PROPERTY AND EQUIPMENT

3 Months Ended

Nov. 30, 2011

Property and equipment are being depreciated over their estimated useful lives using the straight-line method of depreciation for book purposes.

	November 30, 2011			February 28, 2011
Furniture	$	45,831		$	38,907
Computer equipment		173,254			123,922
Shop machinery and equipment		248,132			224,748
Vehicles		18,095			30,273
Subtotal		485,312			417,850
Less: accumulated depreciation		(80,587	)		(42,735	)
Property and equipment, net	$	404,725		$	375,115

Depreciation expense totaled $12,617 and $38,221 for the three and nine months ended November 30, 2011.

- Definition

Tabular disclosure of the useful life and salvage value of 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.

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