Quarterly report pursuant to Section 13 or 15(d)

NOTE 4 - PROPERTY AND EQUIPMENT

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NOTE 4 - PROPERTY AND EQUIPMENT
9 Months Ended
Sep. 30, 2015
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
NOTE 4 – PROPERTY AND EQUIPMENT

Property and equipment is summarized as follows:

   
September 30, 2015
   
December 31, 2014
 
Leasehold improvements
 
$
30,557
   
$
30,557
 
Equipment, furniture and fixtures
   
1,375,443
     
1,175,378
 
     
1,406,000
     
1,205,935
 
Less: Accumulated depreciation
   
(1,027,808
)
   
(910,881
)
Property and equipment, net
 
$
378,192
   
$
295,054
 

Depreciation and amortization expense related to these assets for the three and nine months ended September 30, 2015 was $38,920 and $116,927, respectively, as compared to $28,196 and $84,682 for the three and nine months ended September 30, 2014, respectively. 

Property and equipment under capital leases are summarized as follows:

   
September 30, 2015
   
December 31, 2014
 
Equipment, furniture and fixtures
   
385,771
     
297,080
 
Less: Accumulated depreciation
   
(208,131
)
   
(143,376
)
                 
Property and equipment, net
 
$
177,640
   
$
153,704