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PROPERTY AND EQUIPMENT | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2012 | Dec. 31, 2011
Property, Plant and Equipment [Abstract] |  |
PROPERTY AND EQUIPMENT | Note 5. PROPERTY AND EQUIPMENT The components of property and equipment consisted of the following:
|  | June 30, |  |  | December 31, |  |
|  | 2012 |  |  | 2011 |  |
|  | (Unaudited) |  |  |  |  |
Machinery and Equipment |  | $ | 5,501,000 |  |  | $ | 3,700,000 |  | 5 - 8 years
Capital Lease Machinery and Equipment |  |  | 3,877,000 |  |  |  | 3,877,000 |  | 5 - 8 years
Tools and Instruments |  |  | 3,456,000 |  |  |  | 3,417,000 |  | 1.5 - 7 years
Automotive Equipment |  |  | 55,000 |  |  |  | 55,000 |  | 5 years
Furniture and Fixtures |  |  | 231,000 |  |  |  | 219,000 |  | 5 - 8 years
Leasehold Improvements |  |  | 612,000 |  |  |  | 595,000 |  | Term of Lease
Computers and Software |  |  | 173,000 |  |  |  | 158,000 |  | 4-6 years
Total Property and Equipment |  |  | 13,905,000 |  |  |  | 12,021,000 |  |
Less: Accumulated Depreciation |  |  | (8,765,000 | ) |  |  | (8,050,000 | ) |
Property and Equipment, net |  | $ | 5,140,000 |  |  | $ | 3,971,000 |  |
Depreciation expense for the three months ended June 30, 2012 and 2011 were approximately $359,000 and $379,000, respectively. Depreciation expense for the six months ended June 30, 2012 and 2011 were approximately $715,000 and $791,000, respectively. | Note 5. PROPERTY AND EQUIPMENT The components of property and equipment at December 31, consisted of the following:
|  | 2011 |  |  | 2010 |  |  |
Machinery and Equipment |  | $ | 3,700,000 |  |  | $ | 3,483,000 |  |  | 5 - 8 years
Capital Lease Machinery and Equipment |  |  | 3,877,000 |  |  |  | 2,695,000 |  |  | 5 - 8 years
Tools and Instruments |  |  | 3,417,000 |  |  |  | 3,105,000 |  |  | 1.5 - 7 years
Automotive Equipment |  |  | 55,000 |  |  |  | 55,000 |  |  | 5 years
Furniture and Fixtures |  |  | 219,000 |  |  |  | 212,000 |  |  | 5 - 8 years
Leasehold Improvements |  |  | 595,000 |  |  |  | 595,000 |  |  | Term of Lease
Computers and Software |  |  | 158,000 |  |  |  | 158,000 |  |  | 4-6 years
Deposit on new Machinery |  |  | - |  |  |  | 192,000 |  |  |
Total Property and Equipment |  |  | 12,021,000 |  |  |  | 10,495,000 |  |  |
Less: Accumulated Depreciation |  |  | (8,050,000 | ) |  |  | (6,560,000 | ) |  |
Property and Equipment, net |  | $ | 3,971,000 |  |  | $ | 3,935,000 |  |  |
Depreciation expense for the year ended December 31, 2011 and 2010 were approximately $1,503,000 and $1,767,000, respectively. In May 2011, the Company acquired new machinery in the amount of $1,182,000. The Company paid $355,000 in cash and the balance was financed by a new capital lease in the amount of $827,000.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 5 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 + Details
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