LONG-LIVED ASSETS

9 Months Ended

Apr. 30, 2015

11.

LONG-LIVED ASSETS

The Company’s long-lived assets include furniture and equipment, office equipment and computers, tooling, websites and software, leasehold improvements, patents and trademarks. Tooling and equipment, net of accumulated depreciation, consists of the following at April 30, 2015 and July 31, 2014 (in thousands):

	Estimated Useful Life	April 30, 2015		July 31, 2014
Furniture and fixtures, leasehold improvements, office equipment and computers	3 – 5years	$	85	$	85
Website and software	3 years		26		26
			111		111
Less accumulated depreciation			(111)		(110)
Tooling and equipment, net		$	0	$	1

Depreciation expense was $0 and $1,000 during the three and nine months ended April 30, 2015 and was $1,000 and $4,000 during the three and nine months ended April 30, 2014. Nine Exer-Rest^® AT 3800 and AT 4700 demonstration units are included in furniture and fixtures at an aggregate cost of $26,000. These units were placed in service in fiscal 2009 and 2010, and were fully depreciated based upon five-year estimated useful lives.

- 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.

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