General form of registration statement for all companies including face-amount certificate companies

PROPERTY AND EQUIPMENT

v2.4.0.8
PROPERTY AND EQUIPMENT
 3 Months Ended 12 Months Ended
Mar. 31, 2014
Dec. 31, 2013
Notes to Financial Statements    
Note 7. PROPERTY AND EQUIPMENT

Property, equipment and leasehold improvements at cost, less accumulated depreciation, at March 31, 2014 and December 31, 2013 consisted of the following:

    March 31, 2014     December 31, 2013  
Furniture   $ 35,956     $ 31,539  
Equipment     1,593,444       26,022  
Leasehold improvements     3,342,372       10,400  
Subtotal     4,971,772       67,961  
Less accumulated depreciation     (128,955 )     (46,592 )
Total   $ 4,842,817     $ 21,369  

 

Depreciation expense related to property and equipment for the quarter ended March 31, 2014 was $82,363 and for the quarter ended March 31, 2013 was $3,070.

Property and equipment at cost, less accumulated depreciation, at December 31, 2013 consisted of the following:

 

    December 31,     December 31,  
    2013     2012  
Furniture   $ 31,539     $ 31,539  
Equipment     26,022       26,022  
Leasehold improvements     10,400       10,400  
Subtotal     67,961       67,961  
Less accumulated depreciation     (46,592 )     (34,311 )
Total   $ 21,369     $ 33,650  

 

Depreciation expense related to property and equipment for the year ended December 31, 2013 was $12,280 and for the year ended December 31, 2012 was $14,088.