FIXED ASSETS (Tables)

3 Months Ended

Mar. 31, 2013

Fixed assets are stated at cost less accumulated depreciation and amortization as follows:

	Useful life (in years)	March 31, 2013			December 31, 2012
Furniture and equipment	3 - 5	$	315,192		$	325,522
Computers	2 - 5		312,771			312,771
Leasehold improvements*			19,956			19,956
Total			647,919			658,249

Less: Accumulated depreciation and amortization			(402,326	)		(367,232	)

Total fixed assets, net		$	245,593		$	291,017

* Leasehold improvements are amortized over the shorter of the economic useful life or the lease term.

- Definition

Tabular disclosure of the useful life and salvage value of 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.

+ References+ Details