Annual report pursuant to section 13 and 15(d)

NOTE 3 - PROPERTY AND EQUIPMENT

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NOTE 3 - PROPERTY AND EQUIPMENT
12 Months Ended
Dec. 31, 2011
Property, Plant and Equipment Disclosure [Text Block]
NOTE 3 - PROPERTY AND EQUIPMENT

Property and equipment is summarized as follows:

   
December 31, 2011
   
December 31, 2010
 
Leasehold improvements
  $ 30,557     $ 30,557  
Equipment, furniture and fixtures
    700,606       624,276  
      731,163       654,833  
Less: Accumulated depreciation
    (593,215 )     (498,212 )
                 
 Property and equipment, net
  $ 137,948     $ 156,621  

Depreciation and amortization expense for the years ended December 31, 2011 and 2010 was $95,003 and $82,879.