Property and Equipment

9 Months Ended

Sep. 30, 2014

NOTE 3 – PROPERTY AND EQUIPMENT

	Cost $		Accumulated Depreciation $		September 30, 2014 Net Carrying Value $		December 31, 2013 Net Carrying Value $

Computer hardware		4,323		4,323		-		-
Equipment		21,182		21,182		-		-
Furniture and fixtures		23,653		6,060		17,593		20,892
Demonstration equipment		357,620		-		357,620		157,872
Computer software		392		392		-		-
Leasehold improvements		38,163		9,595		28,568		34,413
		445,333		41,552		403,781		213,177

As at September 30, 2014, demonstration equipment was under construction and was 40% complete.

During the nine month period ended September 30, 2014 and year ended December 31, 2013, the Company recorded no impairment write-downs on the property and equipment.

The Company has $41,848 held in escrow with a lender to finance a purchase order intended to be used for its demonstration asset (Note 10).

- 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

GEI GLOBAL ENERGY CORP. 10-Q