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, 2015

PROPERTY AND EQUIPMENT [Abstract]

PROPERTY AND EQUIPMENT

NOTE 3

PROPERTY AND EQUIPMENT

Property and equipment consists of the following at:

	February 28, 2015		February 28, 2014		Estimated Useful Lives

Land	$	54,030	$	54,030
Building		171,094		171,094		20 years
Furniture, office equipment, and leasehold improvements		887,959		967,483		3-10 years
Manufacturing equipment and tooling		963,843		1,473,827		3-12 years
		2,076,926		2,666,434

Less: accumulated depreciation		915,494		1,827,375
Property and equipment, net	$	1,161,432	$	839,059

Depreciation expense was $268,759 and $225,613 for the years ended February 28, 2015, and February 28, 2014, respectively. We wrote off $1,178,196 in fully depreciated assets in 2015.

- 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.

+ References + Details