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Property and Equipment, Net

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

NOTE 7 – PROPERTY AND EQUIPMENT, NET

At December 31, 2017 and 2016, property and equipment consists of the following:

		December 31, 2017				December 31, 2016
Furniture and equipment		$	189,401			$	517,603
Leasehold improvements			472,218				665,350
			661,619				1,182,953
Less: accumulated depreciation and amortization			(144,617	)			(110,408	)
Property and equipment, net		$	517,002			$	1,072,545

Depreciation expense amounted to $335,825 and $93,641 for the years ended December 31, 2017 and 2016, respectively.

During the year ended December 31, 2017, the Company performed an impairment analysis on various assets and concluded that they were fully impaired. The Company recorded impairment charges for those assets in the amount of $1,375,790.

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- References

No definition available.

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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

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