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v3.19.1

Property and Equipment, Net | 12 Months Ended
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Dec. 31, 2018
Property, Plant and Equipment [Abstract] |
Property and equipment, net | Note 5 — Property and equipment, net Property and equipment, net, consist of the following:
|  | As of December 31, |
|  | 2018 |  |  | 2017 |
Computer equipment |  | $ | 320,406 |  |  | $ | 218,918 |
Office equipment, fixtures and furniture |  |  | 2,077,831 |  |  |  | 2,053,556 |
Capitalized development cost |  |  | 3,307,285 |  |  |  | 1,657,689 |
Automobiles |  |  | 129,301 |  |  |  | 58,828 |
Subtotal |  |  | 5,834,823 |  |  |  | 3,988,991 |
Less: accumulated depreciation and amortization |  |  | (1,127,711 | ) |  |  | (556,422 | )
Total |  | $ | 4,707,112 |  |  | $ | 3,432,569 |
Depreciation and amortization expense for the years ended December 31, 2018, 2017 and 2016 amounted to $272,458, $126,580 and $85,640, respectively. The Company capitalized development costs related to its core supporting modules of the global trade applications and solutions for internal use incurred during the application development stage. The amortization expense for the years ended December 31, 2018, 2017 and 2016 totaled $370,807, $186,974 and $48,746, respectively. The estimated amortization of capitalized development cost is as follows:
Twelve months ending December 31, |  | Estimated amortization expense |
2019 |  | $ | 642,124 |
2020 |  |  | 661,457 |
2021 |  |  | 614,351 |
2022 |  |  | 477,683 |
2023 |  |  | 324,356 |
Total |  | $ | 2,719,971 |

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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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