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, 2017
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, 2017
   
December 31, 2016
 
Leasehold improvements
 
$
88,512
   
$
30,557
 
Equipment, furniture and fixtures
   
1,890,759
     
1,744,439
 
 
   
1,979,271
     
1,774,996
 
Less: Accumulated depreciation
   
(1,489,186
)
   
(1,308,794
)
 
               
 Property and equipment, net
 
$
490,085
   
$
466,202
 

Depreciation expense related to these assets was $63,400 and $180,392 respectively for the three and nine months ended September 30, 2017 as compared to $58,222 and $174,507 for the three and nine months ended September 30, 2016. 

Property and equipment under capital leases are summarized as follows:

 
 
September 30, 2017
   
December 31, 2016
 
Equipment, furniture and fixtures
   
570,884
     
521,905
 
Less: Accumulated depreciation
   
(411,644
)
   
(335,672
)
 
               
 Property and equipment, net
 
$
159,240
   
$
186,233