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Note 4. Property and Equipment

Property and equipment consisted of the following at July 31, 2013 and April 30, 2013:

Depreciation and amortization expense for the three months ended July 31, 2013 and July 31, 2012 was $78,694 and $62,994, respectively.

Amortization expense for software, included in the above amounts, for the three months ended July 31, 2013 and July 31, 2012 was $71,920 and $55,755, respectively. Software consisted of the following at July 31, 2013 and April 30, 2013:

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

Note 5. Property and Equipment

Property and equipment consisted of the following at April 30, 2013 and December 31, 2012 and 2011:

Depreciation and amortization expense for the four months ended April 30, 2013 and 2012 (unaudited) and for the years ended December 31, 2012 and 2011 was $113,794, $73,718, $256,363 and $85,662, respectively. Accumulated depreciation amounted to $569,665, $455,871 and $229,972 as of April 30, 2013, December 31, 2012 and 2011, respectively.

Amortization expense for software, included in the above amounts, for the four months ended April 30, 2013 and 2012 (unaudited) and for the years ended December 31, 2012 and 2011 was $99,855, $64,192, $226,454 and $60,290, respectively. Software consisted of the following at April 30, 2013, December 31, 2012 and 2011:

Estimated future amortization expense of software as of April 30, 2013, is as follows: