Other Balance Sheet Information

3 Months Ended

Mar. 31, 2013

Notes to Financial Statements

Note 8. Other Balance Sheet Information

Components of selected captions in the accompanying balance sheets consist of:

Prepaid expenses:	March 31, 2013			December 31, 2012
Prepaid insurance	$	15,265		$	22,779
Prepaid expenses	$	15,265		$	22,779
Property and equipment:
Computers and office furniture, fixtures and equipment	$	28,031		$	28,031
Machinery and equipment		5,475			5,475
Less: accumulated depreciation		(29,399	)		(29,127	)
Property and equipment, net	$	4,107		$	4,380
Accrued expenses:
Professional fees	$	9,638			16,978
Accrued expenses	$	9,638			16,978

Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. The Company’s property and equipment at March 31, 2013 and 2012 consisted of machinery and equipment with estimated useful lives of one to three years.

Depreciation expense for the three months ended March 31, 2013 was $274.  Depreciation expense for the three months ended March 31, 2012 was $5,929.

Expenditures for repairs and maintenance are expensed as incurred.