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EXCEL - IDEA: XBRL DOCUMENT - Texas Rare Earth Resources Corp.Financial_Report.xls
10-K - TEXAS RARE EARTH RESOURCES CORP. FORM 10-K FOR THE FISCAL YEAR ENDED AUGUST 31, 2012 - Texas Rare Earth Resources Corp.trer10k083112.htm
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EX-31.2 - CERTIFICATION - Texas Rare Earth Resources Corp.ex31-2.htm
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EX-32.1 - CERTIFICATION - Texas Rare Earth Resources Corp.ex32-1.htm
EX-10.29 - SUPPLEMENTAL AGREEMENT - Texas Rare Earth Resources Corp.ex10-29.htm
EX-10.25 - EMPLOYMENT AGREEMENT - Texas Rare Earth Resources Corp.ex10-25.htm
EX-10.28 - SEVERANCE, WAIVER AND RELEASE AGREEMENT - Texas Rare Earth Resources Corp.ex10-28.htm
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EX-31.1 - CERTIFICATION - Texas Rare Earth Resources Corp.ex31-1.htm
v2.4.0.6
PROPERTY AND EQUIPMENT, NET (Tables)
12 Months Ended
Aug. 31, 2012
Notes to Financial Statements  
Schedule of Property and Equipment
Property and equipment consist of office furniture, equipment and vehicles.  The fixed assets are depreciated using the straight-line method over their estimated useful life of 3-20 years.  Our fixed assets consist of the following:

   
August 31, 2012
   
August 31, 2011
 
Furniture &office equipment
 
$
111,582
   
$
90,959
 
Vehicles
   
105,299
     
68,290
 
Computers & software
   
56,176
     
31,792
 
Field equipment
   
73,953
     
50,451
 
     Total cost basis
   
347,010
     
241,492
 
Less: Accumulated depreciation
   
(96,101
)
   
(23,973
)
     Property and equipment, net
 
$
250,909
   
$
217,519