The Joint Corp. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

Note 4 - Property and Equipment

Note 4 - Property and Equipment

9 Months Ended

12 Months Ended

Sep. 30, 2015

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Note 4:

Property and Equipment

Property and equipment consists of the following:

	September 30, 2015			December 31, 2014

Office and computer equipment	$	470,251		$	209,575
Leasehold improvements		2,330,927			665,961
Software developed		688,471			564,560
		3,489,649			1,440,096
Accumulated depreciation		(838,325	)		(305,644	)
		2,651,324			1,134,452
Assets in progress		950,893			-
	$	3,602,217		$	1,134,452

Depreciation expense was $257,197 and $532,682 for the three and nine months ended September 30, 2015, respectively. Depreciation expense was $52,823 and $141,707 for the three and nine months ended September 30, 2014, respectively.

Assets in progress relate to the ongoing development of company-owned or managed clinics, which are not yet placed in service.

Note 4: Property and Equipment

Property and equipment consist of the following:

	December 31,			December 31,
	2014			2013

Office and computer equipment	$	209,575		$	28,817
Leasehold improvements		665,961			-
Software developed		564,560			379,415
		1,440,096			408,232
Accumulated depreciation and amortization		(305,644	)		(117,047	)
		1,134,452			291,185
Assets in progress		-			109,082
	$	1,134,452		$	400,267

Depreciation and amortization expense was $210,123 and $70,725 for the years ended December 31, 2014 and 2013, respectively.

As of December 31, 2013, assets in progress include costs for signage, furniture and equipment related to our office relocation as well as software under development. These costs were transferred to the appropriate property and equipment category and commenced depreciation when the assets became ready for their intended use.