Property and Equipment
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6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2014
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Property and Equipment [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment Disclosure [Text Block] |
Major classes of property and equipment consisted of the following for each of the periods presented below:
There were no changes in the estimated useful life used to depreciate property and equipment during the three and six month periods ended June 30, 2014 and 2013. For each of the three month periods ended June 30, 2014 and 2013, property and equipment depreciation expense recorded was approximately $125,000 and $99,700, respectively. For each of the six month periods ended June 30, 2014 and 2013, property and equipment depreciation expense recorded was approximately $224,000 and $188,780, respectively. For each of the three and six month periods ended June 30, 2014 and 2013, there were no material sales or disposals of owned property and equipment. Included in property and equipment are certain equipment purchases acquired under capital lease arrangements. See Note 7 for additional information about historical capital lease obligations. In conjunction with the Company’s acquisition of SCL on May 1, 2014, the company assumed capital lease assets with a net book value of approximately $70,700. Total capitalized cost of equipment under capital leases at June 30, 2014 and December 31, 2013 was approximately $553,600 and $477,500, respectively. For each of the three and six month periods ended June 30, 2014 and 2013, the Company did not enter into any capital lease arrangements. For the three month periods ended June 30, 2014 and 2013 depreciation expense for leased equipment was approximately $18,000 and $14,700, respectively. For the six month periods ended June 30, 2014 and 2013, depreciation expense for leased equipment was approximately $32,700 and $29,400, respectively. Accumulated depreciation for leased equipment at June 30, 2014 and December 31, 2013 was approximately $448,100 and $408,900, respectively. For the three month periods ended June 30, 2014, there were no disposals of leased equipment. Total net book value of assets under capital leases at June 30, 2014 and December 31, 2013 was approximately $105,500 and $68,600, respectively. |