Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.19.3.a.u2
Property and Equipment
 12 Months Ended
Dec. 31, 2019
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and EquipmentProperty and equipment consist of the following:
December 31,
2019 2018
Office and computer equipment $ 1,594,364    $ 1,243,104   
Leasehold improvements 7,154,156    5,407,915   
Software developed 1,193,007    1,145,742   
Finance lease assets 80,604    —   
10,022,131    7,796,761   
Accumulated depreciation and amortization (5,671,366)   (4,909,002)  
4,350,765    2,887,759   
Construction in progress 2,230,823    770,248   
Property and Equipment, net $ 6,581,588    $ 3,658,007   
Depreciation expense was $823,679 and $1,049,942 for the years ended December 31, 2019 and 2018, respectively.
Amortization expense related to finance lease assets was $24,675 for the year ended December 31, 2019.
Construction in progress at December 31, 2019 and 2018 principally relate to development costs for a software to be used by clinics for operations and by the Company for the management of operations.
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 ceased its related internal development, and as a result, the Company recorded an impairment of approximately $343,000 of previously capitalized software development costs during the year ended December 31, 2018.