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Note 5 - Property and Equipment

9 Months Ended

Sep. 30, 2013

NOTE 5 – PROPERTY AND EQUIPMENT

Property and equipment at September 30, 2013 and December 31, 2012 consisted of the following:

(Useful lives)	September 30, 2013	December 31, 2012
Vehicle(5 years)	$ 120,210	$ 47,976
Furniture and office equipment(4 - 5 years)	169,837	153,089
	290,047	201,065
Less: accumulated depreciation	(140,211)	(136,203)
Property and equipment, net	$ 149,836	$ 64,862

For the three months ended September 30, 2013 and 2012, depreciation expense amounted to $9,055 and $2,010, respectively. For the nine months ended September 30, 2013 and 2012, depreciation expense amounted to $22,243 and $5,456, respectively.

- 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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