Quarterly report pursuant to Section 13 or 15(d)

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

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PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET
 6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
NOTE 7 - PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

Property, equipment, and leasehold improvements, net consists of the following:

 

    June 30,     December 31,   
    2018     2017  
             
Land and Building   $ 19,662,334     $ 9,047,201  
Furniture and Equipment     3,715,118       3,553,587  
Computer Hardware and Software     492,801       486,176  
Leasehold Improvements     8,417,236       9,316,665  
Construction in Progress     7,594,184       1,204,547  
                 
Subtotal     39,881,673       23,608,176  
Less Accumulated Depreciation     (4,941,265 )     (4,416,560 )
                 
Property, Equipment and Leasehold Improvements, Net    $ 34,940,408     $ 19,191,616  

 

Depreciation expense related to property, equipment and leasehold improvements for the three months ended June 30, 2018 and 2017 was $540,167 and $456,659, respectively, and for the six months ended June 30, 2018 and 2017 was $1,070,737 and $919,732, respectively.