Property and Equipment

6 Months Ended

Jun. 30, 2015

Property, Plant and Equipment [Abstract]

Property and Equipment

3. Property and Equipment

Property and equipment consist of the following at June 30, 2015, and December 31, 2014 (in thousands):

	June 30, 2015							December 31, 2014
	Cost		Accumulated Depreciation			Net Book Value		Cost		Accumulated Depreciation			Net Book Value
Computer equipment	$	1,099	$	(719	)	$	380	$	1,108	$	(602	)	$	506
Furniture and fixtures		22		(6	)		16		22		(4	)		18
Software		2,573		(1,499	)		1,074		2,733		(1,137	)		1,596
Building and Leasehold improvements		541		(63	)		478		541		(36	)		505
Land and Buildings		797		(27	)		770		797		(19	)		778
Total	$	5,032	$	(2,314	)	$	2,718	$	5,201	$	(1,798	)	$	3,403

Depreciation expense on property and equipment for the three and six months ended June 30, 2015, including property and equipment under capital lease at June 30, 2015, was $0.3 million and $0.6 million respectively, and is recorded in operating expenses. Depreciation expense on property and equipment for the three and six months ended June 30, 2014, including property and equipment under capital lease at June 30, 2014, was $0.4 million and $0.7 million respectively, and is recorded in operating expenses. Equipment under capital lease at June 30, 2015 totaled $0.1 million. Equipment under capital lease at June 30, 2014 totaled $0.2 million.

In November of 2013, LookSmart acquired an approximate 10,000 square foot data center facility in Phoenix, Arizona.  By the end of November 2013, LookSmart completed the process of consolidating its cloud services into this data center. As a result, the Company intends to expand its cloud based offerings to its customers under the name Novatech.io .