EQUIPMENT

6 Months Ended

12 Months Ended

Jun. 30, 2013

Dec. 31, 2012

NOTE 3 - EQUIPMENT

Equipment consists of the following:

	June 30, 2013		December 31, 2012

Office equipment	$	22,145	$	12,741
Lab equipment		467,582		388,521
Furniture		4,061		4,061
Leasehold Improvements		37,519		28,134
		531,307		433,457
Less: Accumulated depreciation		182,693		132,463

	$	348,614	$	300,994

Depreciation expense for the six months ending June 30, 2013 and 2012 was $51,902 and $16,486. Depreciation expense for the three months ending June 30, 2013 and 2012 was $29,289 and $9,750.

NOTE 3 - PROPERTY AND EQUIPMENT

Equipment consists of the following:


	December 31, 2012	December 31, 2011

Office equipment	$ 12,741	$ 12,816
Lab equipment	388,521	169,028
Furniture	4,061	3,494
Leasehold improvements	28,134	5,368
	433,457	190,706
Less: Accumulated depreciation	132,463	101,955

	$ 300,994	$ 88,751

Depreciation expense for the years ending December 31, 2012 and 2011 was $53,391 and $26,711.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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