Other Balance Sheet Information

3 Months Ended

Mar. 31, 2016

Notes to Financial Statements

Other Balance Sheet Information

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

Prepaid expenses:	March 16, 2016 (unaudited)		December 31, 2015
Prepaid insurance	$	17,597	$	26,396
Other		-		-
Prepaid expenses	$	17,597	$	26,396
Property and equipment:
Computers and office furniture, fixtures and equipment	$	28,031	$	28,031
Machinery and equipment		5,475		5,475
Less: accumulated depreciation		(32,681)		(32,408	)
Property and equipment, net	$	825	$	1,098
Accrued expenses:
Other Accrued expenses	$	24,764	$	34,366
Accrued expenses	$	24,764	$	34,366

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, 2016 consisted of computer and office equipment, machinery and equipment with estimated useful lives of three to seven years. Depreciation expense for each of the three months ended March 31, 2016 and 2015 was $273.

Expenditures for repairs and maintenance are expensed as incurred.