NOTE 3. Property and Equipment
As of September 30, 2003, property and equipment consisted of the following:
| Class of Fixed Asset | Depreciation/ Amortization Method |
Service Life (Years) |
Acquisition Value |
Accumulated Depreciation/ Amortization |
Net Book Value |
|---|---|---|---|---|---|
| IT Equipment | SL | 3-5 | $226,538 | $182,403 | $ 44,135 |
| Software | SL | 3-5 | 152,131 | 107,373 | 44,758 |
| Software in Progress | - | - | 15,504 | - | 15,504 |
| Furniture | SL | 5 | 13,607 | 10,748 | 2,859 |
| Equipment | SL | 3-5 | 10,637 | 9,428 | 1,209 |
| Construction in Progress | - | - | 8,900 | - | 8,900 |
| Total Fixed Assets | $427,317 | $309,952 | $117,365 | ||
As of September 30, 2002 property and equipment consisted of the following:
| Class of Fixed Asset | Depreciation/ Amortization Method |
Service Life (Years) |
Acquisition Value |
Accumulated Depreciation/ Amortization |
Net Book Value |
|---|---|---|---|---|---|
| IT Equipment | SL | 3-7 | $211,247 | $157,861 | $ 53,386 |
| Software | SL | 3-7 | 123,145 | 82,555 | 40,590 |
| Software in Progress | - | - | 19,552 | - | 19,552 |
| Furniture | SL | 5 | 14,473 | 10,413 | 4,060 |
| Equipment | SL | 3-5 | 10,136 | 8,540 | 1,596 |
| Total Fixed Assets | $378,553 | $259,369 | $119,184 | ||
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