Blüm Holdings Inc. General form of registration statement for all companies including face-amount certificate companies

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

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

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.