Sonnet BioTherapeutics, Inc. Post-effective amendment to a registration statement that is not immediately effective upon filing

Post-effective amendment to a registration statement that is not immediately effective upon filing

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2013

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

Property and equipment consists of the following at March 31, 2013 and December 31, 2012:

	2013			2012

Office and computer equipment	$	35,076		$	35,076
Furniture and fixtures		47,686			47,686
Restaurant furnishings and equipment		2,850,599			2,826,760
		2,933,361			2,909,522
Accumulated depreciation		(706,424	)		(593,376	)
	$	2,226,937		$	2,316,146

Property and equipment consists of the following at December 31, 2012 and 2011:

	2012			2011

Office and computer equipment	$	35,076		$	32,179
Furniture and fixtures		47,686			67,794
Construction in progress		-			217,001
Restaurant furnishings and equipment		2,826,760			1,437,729
		2,909,522			1,754,703
Accumulated depreciation		(593,376	)		(249,644	)
	$	2,316,146		$	1,505,059

- Definition

Tabular disclosure of the useful life and salvage value of 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.

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