Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v2.4.0.6
Property and Equipment
12 Months Ended
Dec. 31, 2012
Property and Equipment [Abstract]  
Property and Equipment
7. Property and Equipment

 

The major classes of property and equipment are as follows:

 

    Useful Life   2012     2011  
Production machinery and equipment   5 years   $ 397,643     $ 218,205  
Other machinery and equipment, primarily
computers and research equipment
 
3 - 5 years
    581,409       399,587  
Furniture and fixtures   7 years     439,716       416,005  
Software   3 years     471,811       305,282  
Leasehold improvements   Life of Lease1     136,316       102,150  
        $ 2,026,895     $ 1,441,229  

 

1 We amortize leasehold improvements over the life of the lease, which in all cases is shorter than the estimated useful life of the asset.

 

Property and equipment includes $30,000 and $20,000 of equipment under capital leases with accumulated amortization of $16,000 and $11,000 at December 31, 2012 and 2011, respectively. During 2012, 2011 and 2010, we recorded $199,000, $117,000 and $102,000, respectively, of depreciation and amortization related to property and equipment.