PROPERTY AND EQUIPMENT, NET

6 Months Ended

Jun. 30, 2015

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

NOTE 4 – PROPERTY AND EQUIPMENT, NET

Property and equipment consisted of the following:

		June 30,		December 31,
		2015		2014
Computer equipment	$	35,820	$	35,820
Furniture and fixtures		114,342		54,016
		150,162		89,836
Less: accumulated depreciation		118,277		68,253
Property and Equipment, Net	$	31,885	$	21,582

Property and equipment consist of furniture and fixtures and computer equipment.  The furniture and computer equipment are being depreciated over a period of from three to five years.  

In May 2014, the Company acquired an office building for a purchase price of $430,000, which was sold in December 2014 for $240,000. The Company recorded a loss on sale of the building of $71,616 in the accompanying consolidated statement of operations for the year ended December 31, 2014. The Company amortized the non-refundable deposit $100,000 to expense in 2014.  

Depreciation expense for ID Global and MultiPay for the six months ended June 30, 2015 and 2014 was $22,740 and $23,516, respectively.