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FURNITURE AND EQUIPMENT

12 Months Ended

Sep. 30, 2011

NOTE 5: FURNITURE AND EQUIPMENT

Cost and accumulated depreciation of property and equipment at September 30, 2011 and 2010 is as follows:

	As of and for the Year Ended,

	2011			2010
Furniture and equipment	$	41,200		$	41,200
Computer software		1,137,164			1,111,244

		1,178,364			1,152,444
Less accumulated depreciation		(1,068,308	)		(956,713	)

Furniture and equipment—net	$	110,056		$	195,731

Furniture and equipment are carried at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method. Estimated useful lives are 7 years for furniture and equipment, and 3 years for computer software. Major improvements are capitalized, while maintenance and repairs are charged to expense as incurred. Depreciation expense was $0.1 million for the year ended September 30, 2011 and $0.3 million for the year ended September 30, 2010.

- 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.

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