Property And Equipment, Net

12 Months Ended

Dec. 31, 2013

Property And Equipment, Net [Abstract]

5. PROPERTY AND EQUIPMENT, NET

Property and equipment, at cost, consisted of the following at December 31, 2013 and 2012:



	2013		2012
Equipment and software	$	8,158,454	$	8,082,091
Leasehold improvements		837,377		837,377
Furniture and fixtures		502,397		505,428
		9,498,228		9,424,896
Less accumulated depreciation and amortization		(9,190,843)		(9,021,450)
	$	307,385	$	403,446

Depreciation expense related to property and equipment was $174,444, $185,146, and $314,113, in 2013, 2012, and 2011, respectively. Depreciation expense includes depreciation related to capital leases of approximately $28,748, $24,100, and $14,371 for the periods ended December 31, 2013, 2012, and 2011 respectively. Accumulated depreciation included accumulated depreciation related to capital leases as of December 31, 2013, 2012, and 2011 of $87,654, $58,906, and $34,806, respectively.

In April 2012, we purchased engineering equipment under a capital lease and recorded a corresponding capital lease obligation of approximately $72,000. The lease has a three-year term with monthly payments of approximately $2,500 and an annual implicit interest rate of approximately 15.25%. The principal payments are reflected as cash outflows from financing activities in the accompanying statements of cash flows.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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