Quarterly report pursuant to Section 13 or 15(d)

Note 6 - Property and Equipment

v3.10.0.1
Note 6 - Property and Equipment
9 Months Ended
Sep. 30, 2018
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]
Note
6:
Property and Equipment
 
Property and equipment consist of the following:
 
    September 30,   December 31,
    2018   2017
         
Office and computer equipment   $
1,214,801
    $
1,137,970
 
Leasehold improvements    
5,361,821
     
5,117,379
 
Software developed    
1,145,742
     
1,066,454
 
     
7,722,364
     
7,321,803
 
Accumulated depreciation    
(4,665,685
)    
(3,928,349
)
     
3,056,679
     
3,393,454
 
Construction in progress    
213,060
     
407,012
 
    $
3,269,739
    $
3,800,466
 
 
Depreciation expense was
$258,007
and
$806,625
for the
three
and
nine
months ended
September 30, 2018,
respectively. Depreciation expense was
$340,238
and
$1,099,698
for the
three
and
nine
months ended
September 30, 2017,
respectively.
 
In
August 2018,
the Board of Directors approved a change in strategy as it relates to the development of the Company’s IT platform. The Company will move away from internal development and utilize a
third
party software-as-a-service CRM platform as the basis for its IT infrastructure. Based on this decision, the Company recorded an impairment of approximately
$343,000
of previously capitalized software development costs during the
three
months ended
September 30, 2018.