Annual report pursuant to Section 13 and 15(d)

Note 6 - Property and Equipment

v3.10.0.1
Note 6 - Property and Equipment
 12 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]
Note
6:
Property and Equipment
 
Property and equipment consist of the following:
 
    December 31,
    2018   2017
         
Office and computer equipment   $
1,243,104
     $
1,137,970
  
Leasehold improvements    
5,407,915
      
5,117,379
  
Software developed    
1,145,742
      
1,066,454
  
     
7,796,761
      
7,321,803
  
Accumulated depreciation    
(4,909,002
 )    
(3,928,349
 )
     
2,887,759
      
3,393,454
  
Construction in progress    
770,249
      
407,012
  
    $
3,658,008
     $
3,800,466
  
 
Depreciation expense was
$1,049,942
and
$1,438,443
for the years ended
December 31, 2018
and
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 year ended
December 31, 2018.