Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.20.1
Property and Equipment
3 Months Ended
Mar. 31, 2020
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 6 - Property And Equipment

 

Property and equipment, net, consists of the following:

 

    Useful Life   March 31, 2020     December 31, 2019  
Furniture and fixtures   5-7 years   $ 231,222     $ 231,222  
Computers and software   3-7 years     244,039       244,039  
Leasehold improvements   15 years     157,107       157,107  
          632,368       632,368  
Less accumulated depreciation         (434,772 )     (412,665 )
                     
Total       $ 197,596     $ 219,703  

 

Depreciation expense was approximately $22,000 and $27,000 for the three months ended March 31, 2020 and 2019, respectively. The Company uses the straight-line depreciation method to calculate depreciation expense.