Note 3 - Property and Equipment

12 Months Ended

Dec. 31, 2010

NOTE 3 - PROPERTY AND EQUIPMENT

Property and equipment consists of the following at June 30, 2012 and 2011:

	June 30,
	2012		2011

Technical and laboratory equipment	$	641,326	$	641,326
Leasehold improvements		285,189		285,189
Office equipment and furniture		311,371		311,371
Total property and equipment		1,237,886		1,237,886

Less accumulated depreciation and amortization		(1,236,616)		(1,235,689)

Total property and equipment, net	$	1,270	$	2,197

- 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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