Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
6 Months Ended
Jun. 30, 2015
Property Plant And Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 6. PROPERTY AND EQUIPMENT

Property and equipment, recorded at cost, consisted of the following at:

 

 

 

June 30,

2015

 

 

December 31,

2014

 

Leasehold improvements

 

$

156,843

 

 

$

150,000

 

Furniture and fixtures

 

 

211,411

 

 

 

197,751

 

Computer equipment

 

 

87,631

 

 

 

84,186

 

Automotive vehicles

 

 

94,087

 

 

 

86,364

 

Office equipment

 

 

29,140

 

 

 

17,403

 

 

 

 

579,112

 

 

 

535,704

 

Less: accumulated depreciation

 

 

(215,063

)

 

 

(153,606

)

Property and equipment, net

 

$

364,049

 

 

$

382,098

 

 

Included in depreciation expense was $62,115 and $24,926 related to property and equipment for the six months ended June 30, 2015 and 2014, respectively.

Property and equipment includes $243,970 of leasehold improvements, furniture and fixtures under capital leases as of June 30, 2015. Accumulated depreciation of assets under capital leases totaled $73,631 as of June 30, 2015.