Blüm Holdings Inc. 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

Dec. 31, 2012

Property and equipment at cost, less accumulated depreciation, at December 31, 2012 consisted of the following:

	December 31,			December 31,
	2012			2011
Furniture	$	31,539		$	34,421
Equipment		26,022			32,769
Leasehold improvements		10,400			10,400
Subtotal		67,961			77,590
Less accumulated depreciation		(34,311	)		(22,771	)
Total	$	33,650		$	54,819

Depreciation expense related to property and equipment for the years ended December 31, 2012 and 2011 was $14,088 and $15,794, 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