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Fixed Assets

6 Months Ended

Jun. 29, 2014

NOTE 6 – FIXED ASSETS

Fixed assets consisted of the following at:

	June 29, 2014			December 29, 2013
Leasehold improvements	$	2,867,527		$	2,845,274
Fixtures and equipment		85,267			76,157
Computer software and equipment		251,994			189,525
Property and equipment, total		3,204,788			3,110,956
Less: accumulated depreciation		(586,893	)		(415,742	)
Property and equipment, net	$	2,617,895		$	2,695,214

Depreciation expenses for the thirteen weeks and twenty-six weeks ended June 29, 2014 were $86,966 and $171,152, respectively, for the three and six months ended June 30, 2013 were $54,254 and $80,110, respectively. Repair and maintenance expenses for the thirteen weeks and twenty-six weeks ended June 29, 2014 were $23,316 and $45,432, respectively, and for three and six months ended June 30, 2013 were $6,769 and $13,685, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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