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C - FURNITURE, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET
 12 Months Ended
Dec. 31, 2013
C - FURNITURE, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

Furniture, equipment and leasehold improvements consist of the following:

               
    December 31,  
       
    2013   2012  
           
               
Equipment   $ 518,000   $ 527,000  
Leasehold improvements     427,000     22,000  
Furniture and fixtures     14,000     3,000  
               
               
      959,000     552,000  
Less accumulated depreciation and amortization     (247,000 )   (240,000 )
               
               
    $ 712,000   $ 312,000  
               

Depreciation and amortization expense for the years ended December 31, 2013, 2012 and 2011 amounted to $120,000, $274,000 and $510,000, respectively.

Due to the Company’s discontinuation of its relationship with a software vendor on June 30, 2012, which had developed and maintained Siebert’s website, the Company wrote-off remaining unamortized related software development costs of $433,000. The unamortized carrying value of such development costs consisted of $1,856,000 of cost net of $1,423,000 of accumulation amortization. Effective July 1, 2012, such services are provided by the Company’s clearing broker.
SBS
  
C - FURNITURE, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

Furniture, equipment, and leasehold improvements consist of the following:

               
   

December 31,

  
   

2013

  

2012

  
               
Equipment   $ 896,376   $ 855,315  
Furniture and leasehold improvements     1,659,740     1,653,042  
               
      2,556,116     2,508,357  
Less accumulated depreciation and amortization     1,733,983     1,483,829  
               
    $ 822,133   $ 1,024,528  

Depreciation and amortization expense for 2013, 2012 and 2011 amounted to $250,154, $266,093 and $256,161, respectively.