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Note 12 - Property and Equipment

12 Months Ended

Dec. 31, 2012

Note 12 - Property and Equipment

NOTE 12 – PROPERTY AND EQUIPMENT

Property and equipment are carried at cost and are depreciated over their estimated useful lives (3 to 7 years) using the straight-line method. Costs of assets include those capital expenditures which improve the efficiency of the assets or lengthen their useful lives. Expenditures for maintenance and repairs are charged against income as incurred. Costs and related accumulated depreciation of assets sold or otherwise retired are removed from accounts, and any resulting gain or loss is reflected in income. Depreciation expense charged to operations totaled $29,102 for the year ended December 31, 2012 and $61 for period from inception to December 31, 2011.

As of December 31, 2012, property and equipment consisted of the following:

	December 31, 2012		December 31, 2011
Computer software	$ 9,871		$ -
Computer hardware	25,083		2,187
Furniture and fixtures	7,678		-
Leasehold improvements	5,343		-
Website	194,058		-
Other equipment	91,730		-
	333,763		2,187
Less: Accumulated depreciation	(118,236)		(61)
Property and equipment, net	$ 215,527		$ 2,126

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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