Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.10.0.1
Property and Equipment
 12 Months Ended
Dec. 31, 2018
Property Plant And Equipment [Abstract]  
Property and Equipment

Note 4 – Property and Equipment

Property and equipment are as follows:

 

 

 

As of December 31,

 

 

 

2018

 

 

2017

 

Computer software

 

$

1,797,454

 

 

$

1,418,457

 

Computer hardware

 

 

2,709,072

 

 

 

2,289,687

 

Furniture and fixtures

 

 

544,421

 

 

 

529,287

 

Leasehold improvements

 

 

613,111

 

 

 

613,111

 

 

 

 

5,664,058

 

 

 

4,850,542

 

Less – accumulated depreciation

 

 

(4,445,042

)

 

 

(3,436,625

)

Total property and equipment, net

 

$

1,219,016

 

 

$

1,413,917

 

 

The Company currently uses the following expected life terms for depreciating property and equipment: computer software – 1-2 years, 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 $1,054,720 and $1,309,980 for the years ended December 31, 2018 and 2017, respectively.