Property and Equipment

3 Months Ended

Sep. 30, 2011

Note 4 — Property and Equipment

Property and equipment consists of the following as of September 30, 2011 and June 30, 2011:

	September 30, 2011			June 30, 2011

Computer equipment	$	211,583		$	199,161
Software		191,371			185,689
Printing equipment		1,794,041			1,763,993
Furniture and fixtures		79,252			182,609
Autos and vans		55,983			59,014
		2,332,230			2,390,466
Less accumulated depreciation		(987,699	)		(724,004	)
	$	1,344,531		$	1,666,462

Printing equipment includes $1,353,470 and $1,424,530 of equipment under capital lease and related accumulated depreciation of $516,416 and $309,539 as of September 30, 2011 and June 30, 2011, respectively.

Depreciation expense for the three months ended September 30, 2011 and 2010 was $288,252 and $37,383, 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.

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