Fixed Assets

6 Months Ended

Jun. 30, 2013

Fixed assets:

Fixed Assets

NOTE 7 – FIXED ASSETS

Fixed assets consisted of the following at:

	June 30, 2013			December 31, 2012
Leasehold improvements	$	2,081,772		$	1,359,141
Fixtures and equipment		81,252			37,457
Computer software and equipment		12,910			12,910
Property and equipment, total		2,175,934			1,409,508
Less: accumulated depreciation		(291,534	)		(211,424	)
Property and equipment, net	$	1,884,400		$	1,198,084

Repair and maintenance expenses for the three and six months ended June 30, 2013 were $6,769 and $13,685, respectively, for the three and six months ended June 30, 2012 were $4,374 and $8,803, respectively. Depreciation expenses for the three and six months ended June 30, 2013 were $54,254 and $80,110, respectively, and for the three and six months ended June 30, 2012 were $25,666 and $51,532, respectively.