EQUIPMENT AND LEASEHOLD IMPROVEMENTS

12 Months Ended

Dec. 31, 2011

NOTE 4. - EQUIPMENT AND LEASEHOLD IMPROVEMENTS

Equipment and leasehold improvements consisted of the following at December 31:

		2011				2010
	Estimated Useful Life	Purchased		Under Capital Leases		Purchased		Under Capital Leases

Machinery & equipment	5-7 years	$	2,943,401	$	369,114	$	2,514,045	$	369,114
Building	39 years		1,345,523		-		-		-
Land			185,000		-		-		-
Leasehold improvements	up to 13 years (1)		741,919		-		741,919		-
Furniture & fixtures	7 years		104,709		-		104,709		-
Software & websites	3 years		356,125		-		356,125		-

Total cost		$	5,676,677	$	369,114	$	3,716,798	$	369,114
Less accumulated depreciation			1,822,506		203,456		1,391,693		150,725

Net		$	3,854,171	$	165,658	$	2,325,105	$	218,389

(1) Expiration of lease term

- 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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