PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2012

NOTE 4 - PROPERTY AND EQUIPMENT

Property and equipment consists of the following:	December 31,
	2012		2011
Laboratory equipment	$	818,000	$	816,000
Laboratory and building improvements		17,000		6,000
Furniture and equipment		63,000		63,000
		898,000		885,000
Less accumulated depreciation and amortization		891,000		834,000
Property and equipment, net	$	7,000	$	51,000

Depreciation and amortization on property and equipment was $57,000 and $21,000 for the years ended December 31, 2012 and 2011, respectively. The laboratory equipment is currently being sold and has no further value to the Company. $29,000 of further depreciation was recorded in the fourth quarter of 2012.

- 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.

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