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Property and Equipment | 12 Months Ended
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Dec. 31, 2018
Property, Plant and Equipment [Abstract] |
Property and Equipment | NOTE E – PROPERTY AND EQUIPMENT Property and equipment consist of the following:
|  | December 31, 2018 |  |  | December 31, 2017 |
Computers and peripherals |  |  | 1,021,844 |  |  |  | 1,278,461 |
Furniture and office equipment |  |  | 1,907,116 |  |  |  | 2,625,028 |
Marine equipment |  |  | 8,104,576 |  |  |  | 12,835,409 |
|  |  | 11,033,536 |  |  |  | 16,738,898 |
Less: Accumulated depreciation |  |  | (10,915,557 | ) |  |  | (16,145,082 | )
Property and equipment, net |  | $ | 117,979 |  |  | $ | 593,816 |
During 2018, we sold marine assets with an approximate gross cost of $4.6 million and an approximate net book value of $0.1 million to a Monaco related company for $1.0 million cash and assumed debt. During 2017, we sold this marine vessel to a related party, Monaco Financial, LLC, for $650,000. The consideration for this vessel was applied against our loan balance to Monaco in the amount of $650,000, see NOTE H. During 2016, we sold marine operational assets for a gain of $992,595 of which $792,595 is non-cash. The non-cash gain portion is a result of receiving the in-kind asset earlier noted and the relief of trade related debt. The gain of $992,595 is included in Gain on sale of marine assets in our Consolidated Statement of Income in the relevant period.

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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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