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Property and Equipment | 12 Months Ended
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Dec. 31, 2013
Property and Equipment [Abstract] |
Property and Equipment |
| 6. | Property and Equipment
Major classes of property and equipment consisted of the following:
|  | DECEMBER 31, |
|  | 2013 |  |  | 2012 |
Land and building |  | $ | 677,054 |  |  | $ | 677,054 |
Computer hardware and software |  |  | 2,052,280 |  |  |  | 1,544,233 |
Furniture and fixtures |  |  | 218,939 |  |  |  | 214,000 |
Leasehold improvements |  |  | 368,596 |  |  |  | 368,596 |
Automobile |  |  | 2,400 |  |  |  | 2,400 |
Gross property and equipment |  |  | 3,319,269 |  |  |  | 2,806,283 |
Less: accumulated depreciation and amortization |  |  | (1,773,318 | ) |  |  | (1,377,960 | )
Property and equipment, net |  | $ | 1,545,951 |  |  | $ | 1,428,323 |
For the years ended December 31, 2013 and 2012, depreciation expense recorded was approximately $395,400 and $400,160, respectively. For the year ended December 31, 2013 there were no disposals of equipment. For the year ended December 31, 2012 there were disposals of fully depreciated equipment with gross historical cost and accumulated depreciation of approximately $206,900 and $206,200, respectively. For the years ended December 31, 2013 and 2012 there were no material sales of property and equipment. The gross value of assets under capital leases at December 31, 2013 and 2012 were approximately $477,500, respectively. For the year ended December 31, 2013 there was no capital lease acquisitions, expiration or disposals of equipment leases. For the year ended December 31, 2012 we entered into an equipment capital lease agreement with a net present value of approximately $176,200. For the year ended December 31, 2012 there were disposals of certain expired equipment leases with a gross value and accumulated depreciation of approximately $130,700, respectively. Depreciation expense for leased equipment for the years ended December 31, 2013 and 2012 was approximately $58,700 and $66,700, respectively, and accumulated depreciation at December 31, 2013 and 2012 was $408,900 and $350,200, respectively. Total net book value of assets under capital leases at December 31, 2013 and 2012 was approximately $68,600 and $127,300, 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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