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Furniture and Equipment
 12 Months Ended
Dec. 31, 2016
Furniture and Equipment  
Furniture and Equipment

NOTE 7 – Furniture and Equipment

 

The following is a summary of property and equipment, purchased, used and depreciated over a three-year period, less accumulated depreciation, as of December 31, 2016 and 2015:

 

 

 

Year Ended December 31,

 

 

2016

 

2015

 

 

 

 

 

Property and Equipment

 

$

993,843

 

$

966,936

Less: Accumulated Depreciation

 

 

(428,910)

 

 

(252,182)

Net Property and Equipment

 

$

564,933

 

$

714,754

 

Depreciation expense on property and equipment was $172,315 and $166,744 for the years ended December 31, 2016 and 2015, respectively.