Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

5.	PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

Summary of Property and Equipment

	June 30, 2020			December 31, 2019
Computer hardware and software	$	794,749		$	711,442
Office furniture and equipment		1,638,396			1,627,896
Leasehold improvements		4,159,795			4,150,488
Property and equipment, gross		6,592,940			6,489,826
Less: accumulated depreciation		(2,045,637	)		(1,405,961	)
Property and equipment, net	$	4,547,303		$	5,083,865

Depreciation expense was $320,188 and $155,709 for the three months ended June 30, 2020 and 2019, respectively and $639,676 and $308,331 for the six months ended June 30, 2020 and 2019, respectively.