PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2020

5.	PROPERTY AND EQUIPMENT

Property and Equipment consisted of the following:

SUMMARY OF PROPERTY AND EQUIPMENT

	December 31,
	2020			2019
Computer hardware and software	$	626,328		$	711,442
Office furniture and equipment		1,626,491			1,627,896
Leasehold improvements		4,163,860			4,150,488
Property and equipment, gross		6,416,679			6,489,826
Less: accumulated depreciation		(2,348,842	)		(1,405,961	)
Property and equipment, net	$	4,067,837		$	5,083,865

Depreciation expense was approximately $1,124,000 and $739,000 for the years ended December 31, 2020 and 2019, respectively.