Property, Plant and Equipment and Intangible Assets |
For the Periods Ended: | 9/30/2015 | 12/31/2014 | | | | Property, plant and equipment consist of the following: | | | | | | Equipment | $247,750 | $247,750 | Computers and software | 7,400 | 7,400 | Other equipment | 400 | 400 | Less: disposal | (228,676) | 0 | Total property, plant and equipment | 26,874 | 255,550 | Less: | | | Accumulated depreciation | 24,500 | 14,200 | Current depreciation expense | 12,220 | 10,300 | Less: disposal | (34,800) | 0 | Total accumulated depreciation | 1,920 | 24,500 | | | | Net property, plant and equipment | $24,954 | $231,050 | | | | Intangible assets consist of: | | | | | | Goodwill | $256,000 | $256,000 | Intangible assets | 7,751,031 | 7,751,031 | Less: | | | Impairment | 7,907,031 | 6,665,887 | | | | Net intangible assets | $100,000 | $1,341,144 | | | | Depreciation expense was $12,220 at September 30, 2015 and $15,450 at September 30, 2014. |
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