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8. FIXED ASSETS | 9 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2012 | Sep. 30, 2011
Notes to Financial Statements |  |
8. FIXED ASSETS | Fixed assets, net of accumulated depreciation, were $471,834 and $522,668 as of June 30, 2012 and September 30, 2011, respectively. Accumulated depreciation was $588,208 and $554,884 as of June 30, 2012 and September 30, 2011, respectively. Total depreciation expense was $43,823 and $59,677 for the nine months ended June 30, 2012 and 2011, respectively. All equipment is used for selling, general and administrative purposes and accordingly all depreciation is classified in selling, general and administrative expenses Property and equipment as of June 30, 2012 was comprised of the following:
| Estimated |  | June 30, 2012 |
| Useful Lives |  | Purchased |  |  | Capital Leases |  |  | Total |
Machinery and equipment | 3-10 years |  | $ | 117,106 |  |  | $ | 87,039 |  |  | $ | 204,145 |
Leasehold improvements | 20 years |  |  | 600,000 |  |  |  | - |  |  | $ | 600,000 |
Furniture and fixtures | 3-10 years |  |  | 45,676 |  |  |  | 101,260 |  |  | $ | 146,936 |
Software and websites | 3- 7 years |  |  | 64,112 |  |  |  | 44,849 |  |  | $ | 108,961 |
Less: accumulated depreciation |  |  |  | (388,497 | ) |  |  | (199,711 | ) |  | $ | (588,208 | )
|  |  | $ | 438,397 |  |  | $ | 33,437 |  |  | $ | 471,834 |
| Fixed assets, net of accumulated depreciation, was $522,668 and $588,060 as of September 30, 2011 and 2010, respectively. Accumulated depreciation was $554,884 and $599,784 as of September 30, 2011 and 2010, respectively. Total depreciation expense, was $79,355 and $24,025 for the years ended September 30, 2011 and 2010, respectively. The results of operations of TransTech were included in the Consolidated Statements of Operations for the period June 9, 2010 to September 30, 2011. All equipment is used for selling, general and administrative purposes and accordingly all depreciation is classified in selling, general and administrative expenses. Property and equipment as of September 30, 2011 was comprised of the following:
| Estimated |  | September 30, 2011 |
| Useful Lives |  | Purchased |  |  | Capital Leases |  |  | Total |
Machinery and equipment | 3-10 years |  | $ | 134,616 |  |  | $ | 87,039 |  |  | $ | 221,655 |
Leasehold improvements | 20 years |  |  | 600,000 |  |  |  | - |  |  |  | 600,000 |
Furniture and fixtures | 3-10 years |  |  | 45,676 |  |  |  | 101,260 |  |  |  | 146,936 |
Software and websites | 3- 7 years |  |  | 64,112 |  |  |  | 44,849 |  |  |  | 108,961 |
Less: accumulated depreciation |  |  |  | (374,021 | ) |  |  | (180,863 | ) |  |  | (554,884 | )
|  |  | $ | 470,383 |  |  | $ | 52,285 |  |  | $ | 522,668 |
Property and equipment as of September 30, 2010 was comprised of the following:
| Estimated |  | September 30, 2010 |
| Useful Lives |  | Purchased |  |  | Capital Leases |  |  | Total |
Machinery and equipment | 3-10 years |  | $ | 211,131 |  |  | $ | 87,038 |  |  | $ | 298,169 |
Leasehold improvements | 20 years |  |  | 600,000 |  |  |  | - |  |  |  | 600,000 |
Furniture and fixtures | 3-10 years |  |  | 71,758 |  |  |  | 101,260 |  |  |  | 173,018 |
Software and websites | 3- 7 years |  |  | 69,403 |  |  |  | 47,254 |  |  |  | 116,657 |
Less: accumulated depreciation |  |  |  | (442,977 | ) |  |  | (156,807 | ) |  |  | (599,784 | )
|  |  | $ | 509,315 |  |  | $ | 78,745 |  |  | $ | 588,060 |

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- Definition The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 5 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 + Details
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