Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.6.0.2
Property and Equipment
12 Months Ended
Dec. 31, 2016
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
Note 4 – Property and Equipment
 
Property and equipment are as follows:
 
 
As of December 31,
 
 
 
2016
 
2015
 
Computer software
 
$
1,085,258
 
$
650,386
 
Computer hardware
 
 
2,109,983
 
 
1,203,021
 
Furniture and fixtures
 
 
533,175
 
 
457,887
 
Leasehold improvements
 
 
613,111
 
 
593,287
 
 
 
 
4,341,527
 
 
2,904,581
 
Less – accumulated depreciation
 
 
(2,132,052)
 
 
(1,174,216)
 
Total property and equipment, net
 
$
2,209,475
 
$
1,730,365
 
 
The Company currently uses the following expected life terms for depreciating property and equipment: computer software – 1 year, computer hardware – 3 years, furniture and fixtures – 7 years, leasehold improvements – remaining life of the lease.
 
Total depreciation and amortization expense of the Company’s property and equipment was $957,836, $817,729 and $371,189 for the years ended December 31, 2016, 2015 and 2014, respectively.