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

Property and Equipment

Property and Equipment

12 Months Ended

Oct. 03, 2010

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Note 6 - Property and Equipment

A summary of property and equipment at October 3, 2010 and September 30, 2009 is as follows:

	Estimated Useful Life	Year Ended October 3, 2010			Year Ended September 30, 2009
Property and Equipment
Furniture and Equipment	3-5yrs	$	175,859		$	159,724
Machinery and Equipment	5 yrs		1,063,199			1,034,440
Leasehold Improvements	7 yrs		217,916			147,107
Less: Accumulated Depreciation			(1,160,677	)		(1,094,526	)
Net Property & Equipment		$	296,297		$	246,745

Depreciation Expense		$	66,151		$	99,984

Depreciation expense included in cost of goods sold and general and administrative expense for fiscal 2010 is $42,615 and $23,536, respectively. Depreciation expense included in cost of goods sold and general and administrative expense for fiscal 2009 is $61,628 and $38,356 respectively, inclusive of $9,691 of depreciation for September 28 through October 14, 2008 Optex Systems, Inc. (Texas) predecessor.

- 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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