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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

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.

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