Property and Equipment

3 Months Ended

May 31, 2012

Property, Plant and Equipment Disclosure

Note 3. Property and Equipment

Property and equipment consisted of the following:

	May 31, 2012			August 31, 2011

Equipment	$	1,372,363		$	1,314,814
Rental equipment		58,940			58,940
Furniture and fixtures		298,576			298,576
Leasehold improvements		54,736			47,005
Building		956,000			956,000
Land		244,000			244,000

		2,984,615			2,919,335
Less accumulated depreciation		(1,539,903	)		(1,473,438	)

Property and equipment, net	$	1,444,712		$	1,445,897

- 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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