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5. PROPERTY & EQUIPMENT | 9 Months Ended
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Sep. 30, 2019
Property, Plant and Equipment [Abstract] |
PROPERTY & EQUIPMENT | Property and equipment are stated at cost, less accumulated depreciation. Depreciation is recorded using the straight-line method over the estimated useful lives of the related assets, ranging from three to ten years. A summary is as follows:
|  | Successor |  |  | Successor |
|  | September 30, |  |  | December 31, |
|  | 2019 |  |  | 2018 |
Computers |  | $ | 82,789 |  |  | $ | 5,147 |
Office Equipment |  |  | 37,631 |  |  |  | - |
Furniture and fixtures |  |  | 149,598 |  |  |  | 3,328 |
Leasehold Improvements |  |  | 2,029 |  |  |  | - |
Capital in progress |  |  | - |  |  |  | 10,813 |
|  |  | 272,047 |  |  |  | 19,288 |
Less accumulated depreciation |  |  | (66,937 | ) |  |  | (511 | )
Property and equipment, net |  | $ | 205,110 |  |  | $ | 18,777 |
Depreciation expense related to property and equipment was $16,881, $50 and $13,076 for the nine months ended September 30, 2019 (Successor), and for the periods August 28, 2018 through September 30, 2018 (Successor) and January 1, 2018 through August 27, 2018 (Predecessor), respectively.

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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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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