KORU Medical Systems Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

12 Months Ended

Feb. 28, 2014

PROPERTY AND EQUIPMENT [Abstract]

PROPERTY AND EQUIPMENT

NOTE 3

PROPERTY AND EQUIPMENT

Property and equipment consists of the following at:


	February 28, 2014		February 28, 2013		Estimated Useful Lives

Land	$	54,030	$	54,030
Building		171,094		171,094		20 years
Furniture, office equipment, and leasehold improvements		967,483		844,747		3-10 years
Manufacturing equipment and tooling		1,473,827		1,408,113		3-12 years
		2,666,434		2,477,984

Less: accumulated depreciation		1,827,375		1,601,998
Property and equipment, net	$	839,059	$	875,986

Depreciation expense was $225,613 and $186,521 for the years ended February 28, 2014, and February 28, 2013, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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