Furniture and Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE 7 – Furniture and Equipment

3D Metal Printer – On August 14, 2014, the Company and EOS GmbH (EOS) finalized their agreement with respect to the purchase by the Company of a state-of-the art 3D metal printer Model M290 from EOS for purposes of making parts for users of performance and safety critical components. The printer will also serve as an in-house test bed for future upgrades to the Company’s commercially available PrintRite 3D quality assurance system. As of December 31, 2014, the Company has capitalized $732,028 towards the purchase.

The following is a summary of property and equipment, purchased, used and depreciated over a three-year period, less accumulated depreciation, as of December 31, 2014 and 2013:

	Year Ended December 31,
	2014		2013
Property and Equipment	$	924,319	$	112,371
Less: Accumulated Depreciation		(121,292)		(100,952)
Net Property and Equipment	$	803,027	$	11,419

Depreciation expense on property and equipment was $20,340 and $10,587 for the years ended December 31, 2014 and 2013, respectively.

- 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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