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Equipment and Leasehold Improvements
12 Months Ended
Dec. 31, 2012
Equipment and Leasehold Improvements [Abstract]  
Equipment and Leasehold Improvements
(5)

Equipment and Leasehold Improvements

Equipment and leasehold improvements consist of the following:

 

                 
    As of December 31,  
    2012     2011  

Machinery and equipment

  $ 13,559,018     $ 13, 323,315  

Office equipment

    731,352       729,517  

Office furniture

    108,093       108,093  

Leasehold improvements

    4,748,660       4,723,348  

Construction in progress

    24,413       —    
   

 

 

   

 

 

 
      19,171,536       18,884,273  

Less: Accumulated depreciation and amortization

    (16,143,865     (15,171,191
   

 

 

   

 

 

 
    $ 3,027,671     $ 3,713,082  
   

 

 

   

 

 

 

Depreciation expense was $974,221 and $1,109,518, for the years ended December 31, 2012 and 2011, respectively.