Annual report pursuant to section 13 and 15(d)

PROPERTY AND EQUIPMENT

v2.4.0.8
PROPERTY AND EQUIPMENT
12 Months Ended
Sep. 30, 2013
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT
3.               PROPERTY AND EQUIPMENT
 
At September 30, 2013 and 2012, property and equipment consisted of:
 
 
 
Estimated
 
 
 
 
 
 
 
 
 
Useful
Life
 
2013
 
2012
 
 
 
 
 
 
 
 
 
 
 
Furniture and fixtures
 
5 years
 
$
2,925
 
$
11,791
 
Computer equipment
 
3 years
 
 
-
 
 
4,196
 
Lab equipment
 
5 years
 
 
3,066
 
 
3,066
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5,991
 
 
19,053
 
Less - accumulated depreciation
 
 
 
 
5,669
 
 
18,145
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
322
 
$
908
 
 
Depreciation expense for the years ended September 30, 2013 and 2012, and for the period from inception (March 6, 2006) through September 30, 2013 was $586, $3,372 and $18,731, respectively. During the year ended September 30, 2013, the Company disposed of fully depreciated property and equipment in the amount of $13,062.