• Filing Date: 2018-04-17
  • Form Type: 10-K
  • Description: Annual report
v3.8.0.1
2. PROPERTY AND EQUIPMENT
12 Months Ended
Dec. 31, 2017
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

Property and equipment, net, consist of the following at December 31:

 

   USEFUL LIVES  2017   2016 
            
Furniture and Fixtures  3 or 5 years  $55,702   $73,450 
       55,702    73,450 
Less Accumulated Depreciation      55,702    64,263 
      $   $9,187 

 

Depreciation expense from continuing operations for the years ended December 31, 2017 and 2016 was $5,667 and $119,332, respectively. No deposition or impairment of assets during 2017. In 2016 the company disposed of approximately $736,100 of outdated fixed assets resulting in a loss on disposal of $17,526. In 2016, the Company performed an impairment assessment in accordance with ASC 360-10-35-17, and determined that an impairment loss of $223,487 of the capitalized costs for internal use software exists as of December 31, 2016, no impairment loss was recorded for December 31, 2017.