ºÃÉ«TV. Quarterly report pursuant to sections 13 or 15(d)

Quarterly report pursuant to sections 13 or 15(d)

4. Property and Equipment (Tables)

4. Property and Equipment (Tables)

3 Months Ended

Mar. 31, 2013

Property and equipment consisted of the following at March 31, 2013 and December 31, 2012:

	March 31, 2013			December 31, 2012
Call center	$	121,313		$	121,313
Computer and office equipment		61,037			45,718
Furniture and fixtures		32,914			11,336
Library (online)		100,000			100,000
Software		1,491,035			1,388,824
		1,806,299			1,667,191
Accumulated depreciation and amortization		(541,216	)		(455,871	)
Property and equipment, net	$	1,265,083		$	1,211,320

Amortization expense for software

Software consisted of the following at March 31, 2013 and December 31, 2012:

	March 31, 2013			December 31, 2012
Software	$	1,491,035		$	1,388,824
Accumulated amortization		(361,296	)		(286,744	)
Software, net	$	1,129,739		$	1,102,080

Estimated future amortization expense

The following is a schedule of estimated future amortization expense of software at March 31, 2013:

Year Ending December 31,
2013	$	223,655
2014		298,207
2015		298,207
2016		237,917
2017		71,753
Total	$	1,129,739

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

+ References + Details