Property and Equipment

6 Months Ended

Jun. 30, 2018

Property, Plant and Equipment Disclosure [Text Block]

Property and Equipment

Major classes of property and equipment consisted of the following as of the periods presented below:

	JUNE 30,		DECEMBER 31,
	2018		2017
	(Unaudited)

Computer hardware and software	$	2,007,789	$	1,943,180
Furniture and fixtures		304,371		296,316
Leasehold improvements		255,222		260,748
Automobiles		183,772		188,238
Gross property and equipment		2,751,154		2,688,482
Less: accumulated depreciation and ‎ amortization		1,621,836		1,370,062

Property and equipment, net	$	1,129,318	$	1,318,420

During the six month periods ended June 30, 2018 there were other disposals of fully depreciated owned property and equipment with related cost and accumulated depreciation of approximately $129,600.

During the three and six month periods ended June 30, 2017, the Company relocated from the Lewis Center Facility to a larger facility in Columbus and abandoned undepreciated building and leasehold improvements with a gross cost and accumulated depreciation of approximately $282,200 and $105,500, respectively. The Company recorded within general and administrative expenses a loss on disposal of approximately $176,600 as a result of the move.

There were no changes in the estimated useful lives used to depreciate property and equipment during the three and six month periods ended June 30, 2018 and 2017.

Assets under capital lease included in the table above consisted of the following as of the periods presented below:

	JUNE 30,		DECEMBER 31,
	2018		2017
	(Unaudited)
Automobiles	$	98,508	$	100,882
Computer hardware and software		290,223		290,223
Gross leased property and equipment	$	388,731	$	391,105
Less: accumulated amortization		80,436		20,890

Capital lease assets, net	$	308,295	$	370,215

During the six month period ended June 30, 2018, the Company did not enter into any capital lease arrangements and there were no material sales or disposals of assets under capital leases. During the six month period ended June 30, 2017, the Company acquired two automobiles under capital lease arrangements and recognized a gross asset of $93,301. For the six month period ended June 30, 2017, the Company disposed of two leased automobiles with a net book value of $47,800 and received gross proceeds of approximately $51,800. The Company recognized a net gain on disposal of approximately $4,100.

Property and equipment depreciation expense (including amortization of capital leases) was approximately as follows for the periods presented below:

	THREE MONTHS ENDED				SIX MONTHS ENDED
	JUNE 30,				JUNE 30,
	2018		2017		2018		2017
	(Unaudited)
Property and equipment depreciation expense	$	144,300	$	100,200	$	275,400	$	184,000
Capital lease amortization (included in
property and equipment depreciation expense)	$	30,471	$	7,800	$	60,818	$	7,800