Other Balance Sheet Information

6 Months Ended

Jun. 30, 2014

Notes to Financial Statements

Note 7. Other Balance Sheet Information

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

Prepaid expenses:	June 30, 2014		December 31, 2013
Prepaid insurance	$	7,906	$	23,718
Other		-		6,500
Prepaid expenses	$	7,906	$	30,218
Property and equipment:
Computers and office furniture, fixtures and equipment	$	28,031	$	28,031
Machinery and equipment		5,475		5,475
Less: accumulated depreciation		(30,768)		(30,221	)
Property and equipment, net	$	2,738	$	3,285
Accrued expenses:
Other Accrued expenses	$	16,936		19,711
Accrued expenses	$	16,936		19,711

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 June 30, 2014 and 2013 consisted of machinery and equipment with estimated useful lives of one to three years.

Depreciation expense for the three and six months ended June 30, 2014 and 2013 was $274 and $548, respectively.

Expenditures for repairs and maintenance are expensed as incurred.