Property and Equipment, Disclosure |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||
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| Property and Equipment, Disclosure |
4. PROPERTY AND EQUIPMENT:
A summary of the cost of property and equipment, by component, and the related accumulated depreciation is as follows:
Depreciation expense was $60,251 and $71,029 for the years ended December 31, 2015 and 2014, respectively. The Company recognized a loss on disposal of fixed assets of $60,743 during the year ended December 31, 2015. The Company reclassified fixed assets with a net book value of $186,549 to assets held for sale, at fair market value and recognized a loss on impairment of assets held for sale during the year ended December 31, 2015 of $62,554. |
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- References No definition available.
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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