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, 2013

PROPERTY AND EQUIPMENT [Abstract]

PROPERTY AND EQUIPMENT

NOTE 3

PROPERTY AND EQUIPMENT

Property and equipment consists of the following at:


	February 28, 2013		February 29, 2012		Estimated Useful Lives

Land	$	54,030	$	-
Building		171,094		-		20 years
Furniture, office equipment, and leasehold improvements		844,747		636,159		3-10 years
Manufacturing equipment and tooling		1,408,113		1,278,258		3-12 years
		2,477,984		1,914,417

Less: accumulated depreciation		1,601,998		1,415,477
Property and equipment, net	$	875,986	$	498,940

Depreciation expense was $186,521 and $98,655 for the years ended February 28, 2013 and February 29, 2012, respectively.

- 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.

+ References + Details