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Property and Equipment

9 Months Ended

Sep. 30, 2014

6.	Property and Equipment

	The following is a breakdown of our property and equipment:

		September 30,			December 31,
		2014			2013

Furniture and office equipment	$	982,063		$	965,568
Leasehold improvements		192,309			184,129
Total property and equipment		1,174,372			1,149,697
Less: accumulated depreciation		(798,042	)		(649,839	)
Net carrying value	$	376,330		$	499,858

We recorded depreciation expense of approximately $55,000 and $181,000 for the three and nine months ended September 30, 2014, respectively. We recorded depreciation expense of approximately $70,000 and $207,000 for the three and nine months ended September 30, 2013, 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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