Property and Equipment

12 Months Ended

Dec. 31, 2014

Property and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

6. Property and Equipment

Major classes of property and equipment (includes equipment and automobile capital leases) consisted of the following:

	DECEMBER 31,
	2014		2013
Land and building	$	677,054	$	677,054
Computer hardware and software		2,824,340		2,052,280
Furniture and fixtures		295,485		218,939
Leasehold improvements		547,087		368,596
Automobile		295,844		2,400
Gross property and equipment		4,639,810		3,319,269
Less: accumulated depreciation and amortization		(3,025,628)		(1,773,318)
Property and equipment, net	$	1,614,182	$	1,545,951

For the years ended December 31, 2014, 2013 and 2012, depreciation expense recorded was approximately $496,900, $395,400 and $400,160, respectively. For the year ended December 31, 2014 and 2013 there were no material disposals of equipment. For the year ended December 31, 2012 there were disposals of fully depreciated equipment with gross historical cost and accumulated depreciation of approximately $206,900 and $206,200, respectively. For the years ended December 31, 2014, 2013 and 2012 there were no material sales of property and equipment.

Capital Leases

The gross value of assets under capital leases at December 31, 2014 and 2013 were approximately $548,000 and $477,500, respectively. For the year ended December 31, 2014 and 2013 there were no capital lease acquisitions, expiration or disposals of equipment leases. For the year ended December 31, 2012 we entered into an equipment capital lease agreement with a net present value of approximately $176,200. For the year ended December 31, 2012 there were disposals of certain expired equipment leases with a gross value and accumulated depreciation of approximately $130,700, respectively. Depreciation expense for leased equipment for the years ended December 31, 2014, 2013 and 2012 was approximately $72,100, $58,700 and $66,700, respectively, and accumulated depreciation at December 31, 2014 and 2013 was $481,000 and  $408,900, respectively. Total net book value of assets under capital leases at December 31, 2014 and 2013 was approximately $67,000 and  $68,600, respectively.