Annual report pursuant to Section 13 and 15(d)

Property and Equipment, Net

v2.4.1.9
Property and Equipment, Net
 12 Months Ended
Dec. 31, 2014
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:

 

    December 31, 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     (21,442 )     (1,007,176 )
Total property and equipment, net   $ 20,611     $ 26,041  

 

Depreciation expense was $7,063 and $5,622, for the years ended December 31, 2014 and 2013, respectively.

 

During the year ended December 31, 2014, the Company wrote off $992,797 of fully depreciated property and equipment. There was no effect on the statement of operations for the year ended December 31, 2014.