Property and Equipment

9 Months Ended

Mar. 31, 2013

Notes to financial statement [Abstract]

Note 7. Property and Equipment

Property and Equipment is as follows:

	March 31,	June 30,
	2013	2012
Equipment	$ 707,413	$ 672,383
Leasehold improvements	213,103	93,235
Office furniture and equipment	9,006	7,923
Vehicles	11,984	11,984
Less accumulated depreciation	(209,591)	(107,194)
Total equipment	$ 731,915	$ 678,331

Depreciation expense was $44,670 and $37,603 for the three months ended March 31, 2013 and 2012, respectively. For the nine months ended March 31, 2013 and 2012, depreciation expense was $116,659 and $67,560, respectively.

The Company recognized a net loss of $79,973 from the sale of equipment in the nine month period ended March 31, 2013 related to the abandonment of leasehold improvements associated with the property at 5330 Fleming Court, Austin, TX due to the termination of the lease and surrender of the property.

- 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

HYPERTENSION DIAGNOSTICS INC /MN 10-Q