桃汁影院, Inc. Annual report pursuant to section 13 and 15(d)

Annual report pursuant to section 13 and 15(d)

5. Property and Equipment

5. Property and Equipment

12 Months Ended

Dec. 31, 2012

Property and equipment consisted of the following at December 31, 2012 and 2011:

	December 31, 2012			December 31, 2011

Call center	$	121,313		$	121,313
Computer and office equipment		45,718			38,577
Furniture and fixtures		11,336			-
Library (online)		100,000			100,000
Software		1,388,824			927,455
Vehicle		-			39,736
		1,667,191			1,227,081
Accumulated depreciation and amortization		(455,871	)		(229,972	)
Property and equipment, net	$	1,211,320		$	997,109

Depreciation and amortization expense for the years ended December 31, 2012 and 2011 was $256,363 and $85,662, respectively. Accumulated depreciation amounted to $455,871 and $229,972 as of December 31, 2012 and 2011, respectively.

Amortization expense for software, included in the above amounts, for the years ended December 31, 2012 and 2011 was $226,454 and $60,290, respectively. Software consisted of the following at December 31, 2012 and 2011:

	December 31, 2012			December 31, 2011

Software	$	1,388,824		$	927,455
Accumulated amortization		(286,744	)		(60,290	)
Software, net	$	1,102,080		$	867,165

The following is a schedule of estimated future amortization expense of software at December 31, 2012:

Year Ending December 31,
2013	$	277,765
2014		277,765
2015		277,765
2016		217,474
2017		51,311
Total	$	1,102,080

- Definition

The entire disclosure for 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. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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