Property and Equipment

9 Months Ended

Sep. 30, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment

Major classes of property and equipment consisted of the following as of the periods presented below:

	SEPTEMBER 30,		DECEMBER 31,
	2018		2017
	(Unaudited)
Computer hardware and software	$	2,042,522	$	1,943,180
Furniture and fixtures		334,984		296,316
Leasehold improvements		253,759		260,748
Automobiles		182,314		188,238
Gross property and equipment		2,813,579		2,688,482
Less: accumulated depreciation and
amortization		1,754,793		1,370,062
Property and equipment, net	$	1,058,786	$	1,318,420

During the three and nine month periods ended September 30, 2018 there were other disposals of fully depreciated owned property and equipment with related cost and accumulated depreciation of approximately $129,000.

During the nine month period ended September 30, 2017, the Company relocated from the Lewis Center Facility to a larger facility in Columbus and abandoned undepreciated building and leasehold improvements with a gross cost and accumulated depreciation of approximately $282,200 and $105,500, respectively. The Company recorded within general and administrative expenses a loss on disposal of approximately $172,600 as a result of the move.

There were no changes in the estimated useful lives used to depreciate property and equipment during the three and nine month periods ended September 30, 2018 and 2017.

Assets under capital lease included in the table above consisted of the following as of the periods presented below:

	SEPTEMBER 30,		DECEMBER 31,
	2018		2017
	(Unaudited)
Automobiles	$	97,706	$	100,882
Computer hardware and software		290,223		290,223
Gross leased property and equipment	$	387,929	$	391,105
Less: accumulated amortization		110,539		20,890
Capital lease assets, net	$	277,390	$	370,215

During the nine month period ended September 30, 2018, the Company did not enter into any capital lease arrangements and there were no material sales or disposals of assets under capital leases. During the nine month period ended September 30, 2017, the Company acquired two automobiles under capital lease arrangements and recognized a gross asset of $93,301. For the nine month period ended September 30, 2017, the Company disposed of two leased automobiles with a net book value of $47,800 and received gross proceeds of approximately $51,800. The Company recognized a net gain on disposal of approximately $4,100.

Property and equipment depreciation expense (including amortization of capital leases) was approximately as follows for the periods presented below:

	THREE MONTHS ENDED				NINE MONTHS ENDED
	SEPTEMBER 30,				SEPTEMBER 30,
	2018		2017		2018		2017
	(Unaudited)
Owned property and equipment depreciation	$	108,600	$	94,200	$	323,200	$	282,000
Leased property and equipment amortization		30,500		6,000		91,300		13,800
Total property and equipment depreciation and
amortization	$	139,100	$	100,200	$	414,500	$	295,800