NOTE 10—OTHER ASSETS

Office furniture and equipment and leaseholds improvements are carried at cost. The office furniture and equipment are depreciated over a period of three to ten years and the leasehold improvements are amortized over their estimated useful lives or the lease term, whichever is shorter. Other assets consist of the following:


	December 31,
	2010			2009
Office furniture and equipment	$	3,020,000		$	1,404,000
Less: Accumulated depreciation		(661,000	)		(837,000	)

		2,359,000			567,000
Prepaid expenses		3,316,000			4,316,000
Loan fees, net of accumulated amortization of $467,000 and $1,213,000 at December 31, 2010 and 2009, respectively		1,629,000			1,248,000
Deposits and other, net of accumulated amortization of $23,000 and $54,000 at December 31, 2010 and 2009, respectively		1,546,000			874,000

	$	8,850,000		$	7,005,000

Depreciation and amortization expense related to the above depreciable assets was $279,000, $209,000, and $256,000 for the years ended December 31, 2010, 2009 and 2008, respectively.