PROPERTY AND EQUIPMENT

6 Months Ended

Jun. 30, 2015

NOTE 4 – PROPERTY AND EQUIPMENT

As of June 30, 2015 and December 31, 2014, property and equipment consists of the following:

	June 30,			December 31,
	2015			2014			Useful lives

Leasehold improvements	$	2,927,160		$	2,227,438		10 years
Website development		21,500			21,500		3 years
Equipment		1,835,112			1,299,220		3-7 years
Computers and hardware		164,074			116,275		5 years
		4,947,846			3,664,433
Less accumulated depreciation		(930,689	)		(678,383	)
	$	4,017,157		$	2,986,050

The Company's Colorado Springs-based restaurant opened in late January 2014, and the Company's Lone Tree restaurant opened in April 2015, for which the Company began depreciating such assets at the date of each respective opening. Depreciation expense was approximately $138,100, $249,700, $109,800 and $209,000 for the three and six months ended June 30, 2015 and 2014, respectively.