Quarterly report pursuant to Section 13 or 15(d)

Note 3 - Property and Equipment

v2.4.1.9
Note 3 - Property and Equipment
 9 Months Ended
Sep. 30, 2014
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
Note 3:     Property and Equipment

Property and equipment consists of the following:

   
September 30,
2014
   
December 31,
2013
 
             
Office and computer equipment
  $ 142,157     $ 28,817  
Leasehold improvements
    435,748       -  
Software developed
    432,330       379,415  
      1,010,235       408,232  
Accumulated depreciation and amortization
    (238,802 )     (117,047 )
      771,433       291,185  
Assets in progress
    22,950       109,082  
    $ 794,383     $ 400,267  

Depreciation and amortization expense was $52,823 and $19,142 for the three months ended September 30, 2014 and 2013, respectively, and $141,707 and $50,656 for the nine months ended September 30, 2014 and 2013, respectively.

As of September 30, 2014, assets in progress represents new software under development. As of December 31, 2013, assets in progress includes costs for signage, furniture and equipment related to the February 2014 corporate office relocation as well as new software under development. These costs are transferred to the appropriate property and equipment category and commence depreciation when the assets become ready for their intended use.