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 6. 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     33,325       33,325  
         Leasehold improvements     10,400       10,400  
   Subtotal     78,146       78,146  
Less accumulated depreciation     (30,536 )     (22,605 )
            Total   $ 47,610     $ 55,541  

 

Depreciation expense related to property and equipment for the quarter ended June 30, 2012 was $7,931.