2. Property, Plant and Equipment

12 Months Ended

Oct. 31, 2014

2. Property and Equipment

Property and equipment consist of the following as of October 31, 2014 and 2013:


	Estimated useful lives	2014	2013

Leasehold improvements	3-5 years	$ 207,000		$ 207,000
Equipment	5-10 years	4,976,000		4,627,000
Furniture and fixtures	5-10 years	538,000		538,000
		5,721,000		5,372,000
Less accumulated depreciation		4,397,000		4,025,000
		1323349		1346868
Total		$ 1,324,000		$ 1,347,000

The Company recorded depreciation expense on the assets included in Property and equipment of $372,000 and $259,000 for fiscal years 2014 and 2013, respectively.

- 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.

+ References+ Details