Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.8.0.1
Property and Equipment
12 Months Ended
Dec. 31, 2017
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 4 – Property and Equipment

Property and equipment are as follows:

 

     As of December 31,  
     2017      2016  

Computer software

   $ 1,418,457      $ 1,085,258  

Computer hardware

     2,289,687        2,109,983  

Furniture and fixtures

     529,287        533,175  

Leasehold improvements

     613,111        613,111  
  

 

 

    

 

 

 
     4,850,542        4,341,527  

Less – accumulated depreciation

     (3,436,625      (2,132,052
  

 

 

    

 

 

 

Total property and equipment, net

   $ 1,413,917      $ 2,209,475  
  

 

 

    

 

 

 

 

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 $1,309,980, $957,836 and $817,729 for the years ended December 31, 2017, 2016 and 2015, respectively.