PROPERTY AND EQUIPMENT

3 Months Ended

Mar. 31, 2015

NOTE 4 – PROPERTY AND EQUIPMENT

As of March 31, 2015 and December 31, 2014, property and equipment consists of the following:

	March 31,			December 31,
	2015			2014			Useful lives

Leasehold improvements	$	2,528,080		$	2,227,438		10 years
Website development		21,500			21,500		3 years
Equipment		1,679,672			1,299,220		3-7 years
Computers and hardware		162,994			116,275		5 years
		4,392,246			3,664,433
Less accumulated depreciation		(793,165	)		(678,383	)
	$	3,599,081		$	2,986,050

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 $114,800 and $99,300 for the three months ending March 31, 2015 and 2014, 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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