PROPERTY AND EQUIPMENT

9 Months Ended

Sep. 30, 2014

NOTE 4 – PROPERTY AND EQUIPMENT

As of September 30, 2014 and December 31, 2013, property and equipment consists of the following:

	September 30,			December 31,
	2014			2013			Useful lives
	(Unaudited)
Leasehold improvements	$	2,208,643		$	2,146,322		3-10 years
Website development		21,500			13,500		3 years
Equipment		1,255,660			478,194		3-7 years
Computers and hardware		116,275			52,742		5 years
		3,602,078			2,690,758
Less accumulated depreciation		(568,546	)		(247,183	)
	$	3,033,532		$	2,443,575

The Company's first Denver-based restaurant opened in late February 2013, for which the Company began depreciating such assets. The Company's Colorado Springs-based restaurant opened in late January 2014, for which the Company began depreciating such assets. Depreciation expense was approximately $109,800, and $317,900 for the three and nine months ending September 30, 2014 and $72,000 and $173,400 for the three and nine months ending September 30, 2013, 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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