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Property and Equipment

3 Months Ended

Mar. 31, 2014

Property, Plant and Equipment [Abstract]

NOTE 3 — PROPERTY AND EQUIPMENT

Property and equipment consisted of the following at March 31, 2014 and December 31, 2013:

	Useful Life	March 31, 2014			December 31, 2013
Lab equipment and instruments	4-6	$	202,632		$	194,143
Computer equipment	4-6		110,898			66,493
			313,530			260,636
Less Accumulated Depreciation			(273,070	)		(260,636	)
Net Property and Equipment		$	40,460		$	-

Depreciation expense amounted to $1,038 and $788, for the three month period ended March 31, 2014 and 2013, respectively. The Company’s property and equipment is held as collateral on the notes payable related party.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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