Property and Equipment

3 Months Ended

Sep. 30, 2011

Property, Plant and Equipment Disclosure [Text Block]

NOTE 3. PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

	September 30, 2011				December 31, 2010

Property and equipment		$	180,223			$	174,271
Less: accumulated depreciation			(76,618	)			(60,867	)
Total property and equipment, net		$	103,605			$	113,404

Property and equipment are stated at cost, net of accumulated depreciation and amortization. Maintenance and repairs are charged to expense as incurred. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of 5-10 years. Depreciation expense for property and equipment for the three months ended September 30, 2011 and 2010 was $4,073and $4,642 respectively. Depreciation expense for property and equipment for the nine months ended September 30, 2011 and 2010 was $13,435 and $13,079 respectively.

- Definition

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.

+ References+ Details