Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.3.1.900
Property and Equipment
12 Months Ended
Dec. 31, 2015
Property Plant And Equipment [Abstract]  
Property and Equipment

5.

PROPERTY AND EQUIPMENT

Property and Equipment consists of the following:

 

 

 

December 31,

 

 

 

2015

 

 

2014

 

Computer hardware and software

 

$

40,202

 

 

$

17,179

 

Office furniture and equipment

 

 

35,209

 

 

 

27,960

 

Leasehold improvements

 

 

19,310

 

 

 

19,310

 

Construction in progress

 

 

83,765

 

 

 

 

Less: accumulated depreciation

 

 

(54,348

)

 

 

(10,405

)

Property and equipment, net

 

$

124,138

 

 

$

54,044

 

 

Depreciation expense was approximately $44,000 and $10,000 for the years ended December 31, 2015 and 2014, respectively.  At December 31, 2015, construction in progress consists of purchased property and equipment not placed in service until the Company’s occupation of its new office space in January 2016 (See Note 6).