Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.3.1.900
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2015
Accounting Policies [Abstract]  
Schedule of Property and Equipment Estimated Useful Life
Tooling and equipment are stated at cost. Depreciation of tooling and equipment is provided for using the straight-line method over the following estimated useful lives:
 
 
Computers and Software
 
 
3 years
 
Manufacturing Equipment
 
 
5 years
 
Tooling
 
 
3 years
 
Furniture and Equipment
 
 
5 years
 
Schedule of New Accounting Pronouncements and Changes in Accounting Principles
The following financial statement line items for fiscal years 2015 and 2014 were affected by the change in accounting principle.
 
 
 
December 31,
 
December, 31,
 
 
 
2015
 
2014
 
 
 
 
 
 
 
 
 
Non-Current Assets – Net Debt Issuance Costs
 
$
(66,074)
 
$
(112,521)
 
Total Assets
 
$
(66,074)
 
$
(112,521)
 
Long-Term Portion of Term Debt, Net of Discount
 
$
(66,074)
 
$
(112,521)
 
Total Long-Term Liabilities and Total Liabilities
 
$
(66,074)
 
$
(112,521)
 
Total Liabilities and Stockholders’ Equity (Deficit)
 
$
(66,074)
 
$
(112,521)