Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
9 Months Ended
Sep. 30, 2012
Notes to Financial Statements  
Note 6. PROPERTY AND EQUIPMENT

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

 

    September 30,     December 31,  
    2012     2011  
Furniture   $ 31,005     $ 34,421  
         Equipment     26,022       32,769  
         Leasehold improvements     10,400       10,400  
   Subtotal     67,427       77,590  
Less accumulated depreciation     (31,241 )     (22,771 )
            Total   $ 36,186     $ 54,819  

 

Depreciation expense related to property and equipment for the quarter ended September 30, 2012 was $7,903.