Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Abstract]

5.	PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

Summary of Property and Equipment

	September 30, 2020			December 31, 2019
Computer hardware and software	$	714,380		$	711,442
Office furniture and equipment		1,614,853			1,627,896
Leasehold improvements		4,163,860			4,150,488
Property and equipment, gross		6,493,093			6,489,826
Less: accumulated depreciation		(2,091,071	)		(1,405,961	)
Property and equipment, net	$	4,402,022		$	5,083,865

Depreciation expense was $202,079 and $157,773 for the three months ended September 30, 2020 and 2019, respectively and $841,755 and $466,104 for the nine months ended September 30, 2020 and 2019, respectively. During the three and nine months ended September 30, 2020, the Company wrote off $156,645 of fully depreciated property and equipment.