This excerpt taken from the VIRL 8-K filed Oct 29, 2007.
Property and equipment, net
Property and equipment are recorded at cost, net of accumulated depreciation and are primarily located in the United States. Depreciation is provided on a straight-line basis over the useful lives of the assets, generally three years, or the shorter of the lease term or the estimated useful lives of the assets, if applicable. Leasehold improvements are amortized over the lesser of the term of the lease or the estimated useful life of the asset. Repair and maintenance are charged to expense as incurred.
INGOT SYSTEMS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Information as of June 30, 2007 and for the six months ended June 30, 2007 and 2006 is unaudited.)