General form of registration statement for all companies including face-amount certificate companies

Property and Equipment

v2.4.0.8
Property and Equipment
 6 Months Ended 12 Months Ended
Jun. 30, 2013
Dec. 31, 2012
Property and Equipment [Abstract]    
Property and Equipment
Note 3 – Property and Equipment
 
        Property and equipment consisted of the following at June 30, 2013 and December 31, 2012:
 
 
Lives
  
2013
    
2012
  
               
Office equipment
 5 years
  
$
157,274
    
$
156,162
  
Furniture and fixture
 7 years
    
1,292
      
1,292
  
                   
Total property and equipment
      
158,566
      
157,454
  
Less: accumulated depreciation
      
(154,444
 )    
(154,444
)
Loss on disposition of equipment
      
(4,122
)
    
-
  
                   
Property and equipment, net
    
$
-
    
$
3,010
  
 
         Depreciation expense for the three months ended June 30, 2013 and 2012 were $0 and $159, respectively. Depreciation expense for the six months ended June 30, 2013 and 2012 were $0 and $317 respectively. The Company wrote off its remaining underpreciated property and equipment during the six months ended June 30, 2013.
 
Note 4 – Property and Equipment
 
    Property and equipment consisted of the following at December 31, 2012 and 2011:
 
 
 Lives
  
2012
    
2011
  
               
Office equipment
 5 years
  
$
156,162
    
$
153,804
  
Furniture and fixture
 7 years
    
1,292
      
1,292
  
                   
Total property, plant and equipment
      
157,454
      
155,096
  
Less: accumulated depreciation
      
(154,444
)
    
(153,863
)
                   
Property and equipment
    
$
3,010
    
$
1,233
  
 
        Depreciation expense for the years ended December 31, 2012 and 2011 were $581 and $633, respectively.