Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
6 Months Ended
Jun. 30, 2012
Notes to Financial Statements  
Note 7. PROPERTY AND EQUIPMENT

Property and equipment at cost, less accumulated depreciation, at June 30, 2012 consisted of the following:

 

    June 30,     December 31,  
    2012     2011  
Furniture   $ 34,421     $ 34,421  
Equipment     32,769       32,769  
Leasehold improvements     10,400       10,400  
Subtotal     77,590       77,590  
Less accumulated depreciation     (30,674 )     (22,771 )
Total   $ 46,916     $ 54,819  

 

Depreciation expense related to property and equipment was $7,903 and $6,845 for the six months ended June 30, 2012 and 2011, respectively.