Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v2.4.1.9
Property and Equipment
12 Months Ended
Dec. 31, 2014
Property, Plant and Equipment [Abstract]  
Property and Equipment
Property and Equipment
 
The major classes of property and equipment are as follows:  
 
Useful Life
 
2014
 
2013
Production machinery and equipment
5 years
 
$
1,446,551

 
$
1,239,834

Other machinery and equipment, primarily computers and research equipment
3 – 5 years
 
602,974

 
658,860

Furniture and fixtures
7 years
 
670,567

 
439,715

Software
3 years
 
476,530

 
544,254

Leasehold improvements*
Term of Lease
 
927,406

 
726,396

 
 
 
$
4,124,028

 
$
3,609,059

 
* We amortize leasehold improvements over the term of the lease, which in all cases is shorter than the estimated useful life of the asset.
 
Property and equipment includes $9,000 of equipment under capital leases with accumulated amortization of $5,000 and $3,000 at December 31, 2014 and 2013, respectively. During 2014, 2013 and 2012, we recorded $488,000, $400,000 and $199,000, respectively, of depreciation and amortization related to property and equipment.