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Property and Equipment, net | 12 Months Ended
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Dec. 31, 2014
Property and Equipment [Abstract] |
Property and Equipment | 5. Property and E quipment, net The amounts in the accompanying consol idated balance sheets are analyz ed as follows:
|  | Property and Equipment |  | Accumulated Depreciation |  | Net Book Value
Balance, December 31, 2012 | $ | - | $ | - | $ | -
- Additions in equipment |  | 421 |  | - |  | 421
- Depreciation for the period |  | - |  | (100) |  | (100)
Balance, December 31, 2013 | $ | 421 | $ | (100) | $ | 321
- Land acquisition |  | 871 |  | - |  | 871
- Additions in equipment |  | 29 |  | - |  | 29
- Depreciation for the period |  | - |  | (132) |  | (132)
Balance, December 31, 2014 | $ | 1,321 | $ | (232) | $ | 1,089
In December 2014, UOT acquired, jointly wit h two other related parties, from unrelated individuals a plot of land in Athens, Greece, for an aggreg ate purchase price of Euro 2.0 million or $2,490, based on the exchange rate of US Dollar to Euro on the date of acquisition. The plot of land is under the common ownership of the joint purchasers. T he Company paid one third of the purchase price, and the total cost for the acquisition of the plot, including a dditional c apitalized costs, amounted to $871.

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- Definition Disclosure of the gross amounts and the related depreciation, at the balance sheet date, of long-lived, depreciable assets including land and office building and other assets commonly used in offices. Examples include desks, chairs, and store fixtures, computers and computer software. + References No definition available. + Details
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