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

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

v2.4.1.9
PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS
 3 Months Ended 12 Months Ended
Mar. 31, 2015
Dec. 31, 2014
Notes to Financial Statements    
Note 7. PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

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  

 

Depreciation expense related to property and equipment for the three months ended March 31, 2015 was $392,883 and for the year ended December 31, 2014 was $9,211.

 

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

 

    December 31,     December 31,  
    2014     2013  
Furniture   $ 53,790     $ 31,539  
Equipment     2,367,605       26,022  
Leasehold improvements     3,468,243       10,400  
Subtotal     5,889,638       67,961  
Less accumulated depreciation     (442,895 )     (46,592 )
Total   $ 5,446,743     $ 21,369  

 

Depreciation expense related to property and equipment for the year ended December 31, 2014 was $392,883 and for the year ended December 31, 2013 was $9,211.