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Fixed Assets

12 Months Ended

Dec. 31, 2014

Fixed Assets [Abstract]

NOTE 5 – FIXED ASSETS

Fixed assets at December 31, 2014 and 2013 consisted of the following:

(In thousand $)		December 31, 2014				December 31, 2013
Furniture, fixtures and equipment		$	134			$	127
Computers and software			21				17
Leasehold improvements			239				234
Other			7				5
Total fixed assets			401				383
Less: accumulated depreciation			(88	)			(39	)
Net book value of fixed assets		$	313			$	344

Depreciation expense was $49 and $37 for the years ended December 31, 2014 and 2013, respectively. Repairs and maintenance costs are expensed as incurred.

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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