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FIXED ASSETS

3 Months Ended

Mar. 31, 2013

11 - FIXED ASSETS

Fixed assets consist of the following:

	March 31, 2013		December 31, 2012
Fixed assets, at cost:
Computer equipment	$	43	$	43
Vessel equipment	31		5
Total cost	74		48
Less: accumulated depreciation	39		36
Total	$	35	$	12

Depreciation expense for fixed assets for the three months ended March 31, 2013 and 2012 was $3 and $4, 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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