XML 45 R13.htm IDEA: XBRL DOCUMENT

Fixed Assets

9 Months Ended

Mar. 31, 2013

8. Fixed Assets

The Company’s property and equipment consists of tenant improvements, x-ray machines and various other items of medical and office equipment. Depreciation is recorded on the straight-line basis with tenant improvements depreciated over ten (10) years, and medical and office equipment depreciated over seven (7) years. Depreciation expense for each of the nine month periods ending March 31, 2013 and 2012 were $124, 461, and $4,310, respectively. For the three month periods ending March 31, 2013 and 2012 depreciation expense was $66,335 and $1,195, respectively.

Fixed assets consist of the following as of March 31, 2013 and June 30, 2012:

	March 31, 2013	June 30, 2012

Medical and Office Equipment	$ 649,168	$ 18,472
Tennant Improvements	527,891	-
Less Accumulated Depreciation	(183,989)	(10,630)

	$ 993,070	$ 7,842

- 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.

+ References+ Details