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Property and Equipment

3 Months Ended

Mar. 31, 2014

Property and equipment consisted of the following at:

	March 31, 2014			December 31, 2013
Computers and software	$	59,000		$	59,000
Machinery and equipment		251,000			251,000
Furniture and office equipment		86,000			86,000
Demonstration vehicles and buses		127,000			127,000
		523,000			523,000
Less accumulated depreciation and amortization		(454,000	)		(443,000	)
Total	$	69,000		$	80,000

Depreciation and amortization expense was $11,000 and $58,000 for the three months ended March 31, 2014 and 2013, respectively, and within those total expenses, the amortization of leasehold improvements was $0 and $22,000 for the three months ended March 31, 2014 and 2013. The Company’s headquarters lease expired on January 31, 2013 and the balance of leasehold improvements was decreased to $0. In addition, an evaluation of fixed assets as of March 31, 2013 identified $367,000 in obsolete fixed assets which were disposed of or abandoned and a loss on disposal of fixed assets of $10,000 was recorded in the three months ended March 31, 2013. There was no impairment charge recorded in the three months ended March 31, 2014.

- 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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