Blüm Holdings Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

6 Months Ended

12 Months Ended

Jun. 30, 2013

Dec. 31, 2012

Notes to Financial Statements

Note 7. PROPERTY AND EQUIPMENT

Property and equipment at cost, less accumulated depreciation, at June 30, 2013 consisted of the following:

	June 30,			December 31,
	2013			2012
Furniture	$	31,539		$	31,539
Equipment		26,022			26,022
Leasehold improvements		10,400			10,400
Subtotal		67,961			67,961
Less accumulated depreciation		(40,452	)		(34,311	)
Total	$	27,509		$	33,650

Depreciation expense related to property and equipment for the six months ended June 30, 2013 was $6,141 and for the six months ended June 30, 2012 was $7,931.

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.

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