Annual report pursuant to Section 13 and 15(d)

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET (Tables)

v3.19.1
PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET (Tables)
12 Months Ended
Dec. 31, 2018
Property Equipment And Leasehold Improvements Nettable  
Property, equipment, and leasehold improvements

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

 

    December 31,  
    2018     2017  
             
Land and Building   $ 22,401,014     $ 9,047,201  
Furniture and Equipment     3,652,044       3,553,587  
Computer Hardware and Software     531,119       486,176  
Leasehold Improvements     8,524,930       9,316,665  
Construction in Progress     12,288,468       1,204,547  
                 
Subtotal     47,397,575       23,608,176  
Less Accumulated Depreciation     (5,807,078 )     (4,416,560 )
Less Assets Held for Sale     (7,451,408 )     0  
                 
Property, Equipment and Leasehold Improvements, Net   $ 34,139,089     $ 19,191,616  
Summary of gain upon sale of the assets

The following table summarizes the transaction: 

 

Total Consideration   $ 6,408,239  
Inventory     159,161  
Prepaid Expenses     9,645  
Property & Equipment     597,253  
Total Asset Book Value     766,059  
Transaction Costs     412,500  
Gain on Sale   $ 5,229,680