Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v2.4.0.8
Property and Equipment
6 Months Ended
Jun. 30, 2013
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.