Property and Equipment

6 Months Ended

Jun. 30, 2014

Property, Plant and Equipment [Abstract]

The gross carrying amount and accumulated depreciation of property and equipment as of June 30, 2014 and December 31, 2013 are as follows:



	June 30, 2014			December 31, 2013
Property and Equipment:
Gross carrying amount	$	19,428,594		$	19,339,574
Accumulated depreciation	(16,800,970		)	(16,022,230		)
Property and Equipment, net	$	2,627,624		$	3,317,344

For the three months ended June 30, 2014 and 2013, depreciation expense was $447,410 and $561,448, respectively. For the six months ended June 30, 2014 and 2013, depreciation expense was $940,727 and $1,148,428, respectively. During the second quarter of 2014, in connection with the Company's 2013 restructuring plan, the Company wrote-off gross property and equipment of $240,917 and the associated accumulated depreciation of $142,908, related to assets that were no longer in use as a result of the closure of a foreign facility. For further information, refer to Note (18) Restructuring Costs.

- 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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