Quarterly report pursuant to Section 13 or 15(d)

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS (Tables)

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PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS (Tables)
3 Months Ended
Mar. 31, 2015
Property Equipment And Leasehold Improvements Tables  
Property and equipment

Property, equipment and leasehold improvements at cost, less accumulated depreciation, at March 31, 2015 and December 31, 2014 consisted of the following:

 

    March 31,     December 31,  
    2015     2014  
Furniture   $ 53,790     $ 53,790  
Equipment     2,403,245       2,367,605  
Leasehold improvements     3,475,814       3,468,243  
Subtotal     5,932,849       5,889,638  
Less accumulated depreciation     (591,978 )     (442,895 )
Total   $ 5,340,871     $ 5,446,743