Property and Equipment

12 Months Ended

Dec. 31, 2017

Property And Equipment [Abstract]

Property and Equipment

4. PROPERTY AND EQUIPMENT

Property and equipment consisted of the following at December 31, 2017 and December 31, 2016:

	December 31, 2017			December 31, 2016
Computer hardware and software	$	16,555		$	10,862
Leasehold improvements		7,968			—
Furniture & fixtures		42,503			—
Less accumulated depreciation		(4,042	)		(4,645	)
	$	62,984		$	6,217

Property and equipment are stated on the basis of historical cost less accumulated depreciation. Depreciation is provided using the straight-line method over the estimated useful lives of the assets. Major renewals and improvements are capitalized, while minor replacements, maintenance and repairs are charged to current operations. Impairment losses are recorded on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying amount. Computer hardware and software are depreciated over an estimated useful life of 3 years, tenant improvements are depreciated over 1 year through the end of the current lease arrangement, and office furniture is depreciated over an estimated useful life of 7 years.