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6. Property and Equipment
9 Months Ended
Sep. 30, 2012
Property, Plant and Equipment [Abstract]  
Property and Equipment

Property and Equipment consists of the following:

 

   September 30,  December 31,
   2012  2011
Furniture and fixtures  $2,187   $2,187 
Computers and equipment   312,177    181,459 
Software   55,029    52,326 
Assets held under capital leases   134,800    116,945 
    504,193    352,917 
Less accumulated depreciation and amortization   (293,374)   (207,324)
   $210,819   $145,593 

 

On January 31, 2012, the Company sold computer equipment with a net book value of $14,175 in exchange for proceeds of $14,175, which resulted in no gain or loss on the sale of the assets.

 

Depreciation expense totaled $86,051 and $56,987 for the nine months ended September 30, 2012 and 2011, respectively.