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

Property and Equipment, Net

Property and Equipment, Net

9 Months Ended

12 Months Ended

Sep. 30, 2014

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

NOTE 4 – PROPERTY AND EQUIPMENT, net

Property and equipment, net, consists of the following as of:

	September 30, 2014			December 31, 2013
Research and development equipment	$	-		$	686,673
Leasehold improvements		-			153,161
Information technology equipment		31,892			105,319
Furniture and office equipment		10,161			78,678
Software		-			9,386
		42,053			1,033,217
Less accumulated depreciation		(19,619	)		(1,007,176	)
Total property and equipment, net	$	22,434		$	26,041

Depreciation expense was $1,783 and $5,241, for the three and nine-month periods ended September 30, 2014, respectively. Depreciation expense was $534 and $1,607, for the three and nine-month periods ended September 30, 2013, respectively.

During the three and nine month periods ended September 30, 2014, management recognized a loss of $0 related to the impairment of idle equipment and abandoned leasehold improvements and software.

NOTE 4 – PROPERTY AND EQUIPMENT, net

Property and equipment, net, consists of the following as of December 31:

	2013			2012
Research and development equipment	$	686,673		$	686,673
Leasehold improvements		153,161			153,161
Furniture and office equipment		78,678			78,678
Information technology equipment		105,319			75,060
Software		9,386			9,386
		1,033,217			1,002,958
Less accumulated depreciation		(1,007,176	)		(1,001,554	)
Total property and equipment, net	$	26,041		$	1,404

Depreciation expense was $5,622, $92,596, and $1,007,176, for the years ended December 31, 2013 and 2012, and for the period from inception (March 23, 2006) to December 31, 2013, respectively.