Quarterly report pursuant to Section 13 or 15(d)

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

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PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET
 9 Months Ended
Sep. 30, 2018
Notes to Financial Statements  
NOTE 9 - PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

Property, equipment, and leasehold improvements, net consists of the following:

 

    September 30,     December 31,  
    2018     2017  
             
Land and Building   $ 19,662,334     $ 9,047,201  
Furniture and Equipment     3,522,960       3,553,587  
Computer Hardware and Software     657,088       486,176  
Leasehold Improvements     8,435,062       9,316,665  
Construction in Progress     9,922,155       1,204,547  
                 
Subtotal     42,199,599       23,608,176  
Less Accumulated Depreciation     (5,310,751 )     (4,416,560 )
                 
Property, Equipment and Leasehold Improvements, Net   $ 36,888,848     $ 19,191,616  

 

Depreciation expense related to property, equipment and leasehold improvements for the three months ended September 30, 2018 and 2017 was $417,132 and $479,686, respectively, and for the nine months ended September 30, 2018 and 2017 was $1,487,869 and $1,399,418, respectively.