PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2014

3. PROPERTY AND EQUIPMENT, NET

Property and equipment, net consisted of the following:

	December 31,
	2013			2014
Leasehold improvements	$	1,287,820		$	1,565,172
Computers and office equipment		4,329,524			4,474,072
Vehicle		370,346			261,317
Software		637,988			289,455

		6,625,678			6,590,016
Less: accumulated depreciation and amortization		(4,785,259	)		(4,776,356	)

Property and equipment, net	$	1,840,419		$	1,813,660

Depreciation and amortization expense for property and equipment was $1,456,990, $1,296,956 and $990,583 for the years ended December 31, 2012, 2013 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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