Annual report pursuant to Section 13 and 15(d)

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

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PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Note 6. PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

As of December 31, 2016 and 2015, property, equipment and leasehold improvements at cost, less accumulated depreciation, consisted of the following:

 

    December 31,  
    2016     2015  
             
Land and Building   $ 1,454,124     $ 1,454,124  
Furniture and Equipment     3,141,244       2,226,051  
Computer Hardware and Software     396,479       133,714  
Leasehold Improvements     8,027,792       3,926,795  
                 
Subtotal     13,019,639       7,740,684  
Less Accumulated Depreciation     (2,554,875 )     (1,045,709 )
                 
Property, Equipment and Leasehold Improvements, Net   $ 10,464,764     $ 6,694,975  

 

Depreciation expense related to property, equipment and leasehold improvements for the years ended December 31, 2016, 2015 and 2014 was $969,185, $602,814 and $392,883, respectively