PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Note 6. PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

NOTE 6 – PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

As of December 31, 2016 and 2015, property, equipment and leasehold improvements at cost, less accumulated depreciation, consisted of the following:

	December 31,
	2016			2015
Land and Building	$	1,454,124		$	1,454,124
Furniture and Equipment		3,141,244			2,226,051
Computer Hardware and Software		396,479			133,714
Leasehold Improvements		8,027,792			3,926,795
Subtotal		13,019,639			7,740,684
Less Accumulated Depreciation		(2,554,875	)		(1,045,709	)
Property, Equipment and Leasehold Improvements, Net	$	10,464,764		$	6,694,975

Depreciation expense related to property, equipment and leasehold improvements for the years ended December 31, 2016, 2015 and 2014 was $969,185, $602,814 and $392,883, respectively.