Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

9 Months Ended

Aug. 31, 2011

NOTE 5 — PROPERTY AND EQUIPMENT

The components of property and equipment consisted of the following:


	August 31,		November 30,
	2011		2010

Machinery and equipment	$	273,003	$	261,676
Furniture and equipment		988,473		961,378
Transportation Equipment		27,538		—
Tools, dies, and masters		387,311		352,276
Capitalized lease obligations		263,067		263,067
Web Site		20,000		20,000
Leasehold improvements		466,934		428,761

		2,426,326		2,287,158
Less: Accumulated depreciation and amortization		1,883,801		1,736,469


Property and Equipment — Net	$	542,525	$	550,689

Depreciation expense for the three months ended August 31, 2011 and 2010 amounted to $49,918 and $57,366, respectively. Depreciation expense for the nine months ended August 31, 2011 and 2010 amounted to $147,332 and $181,791, 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