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Equipment

12 Months Ended

Dec. 31, 2011

4. Equipment

At December 31, 2011 and December 31, 2010, equipment, furniture and fixtures were comprised of the following:

	2011			2010
Equipment, furniture and fixtures	$	1,900,090		$	876,708
Accumulated depreciation		(552,311	)		(165,942	)
Equipment net of accumulated depreciation	$	1,347,779		$	710,766

Depreciation expense amounted to $373,349 and $138,659 for the years ended December 31, 2011 and 2010, respectively. The difference between the depreciation expense recognized in the consolidated statement of operations and the increase in accumulated depreciation of $386,369 per the consolidated balance sheet is entirely attributed to foreign currency rates.

- 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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