E - FURNITURE, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

12 Months Ended

Dec. 31, 2014

C - FURNITURE, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

Furniture, equipment and leasehold improvements consist of the following:

	December 31,
	2014			2013
Equipment	$	524,000		$	518,000
Leasehold improvements		546,000			427,000
Furniture and fixtures		43,000			14,000
		1,113,000			959,000
Less accumulated depreciation and amortization		(504,000	)		(247,000	)
	$	609,000		$	712,000

Depreciation and amortization expense for the years ended December 31, 2014, 2013 and 2012 amounted to $257,000, $120,000 and $274,000, respectively.

Due to the Company’s discontinuation of its relationship with a software vendor on June 30, 2012, which had developed and maintained the Company’s website, the Company wrote-off remaining related software development costs of $433,000. The unamortized carrying value of such development costs consisted of $1,856,000 of cost net of $1,423,000 of accumulation amortization. Effective July 1, 2012, such services are provided by the Company’s clearing broker.

Siebert, Brandford, Shank Financial LLC and Subsidiary

C - FURNITURE, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

Furniture, equipment, and leasehold improvements consist of the following:

	December 31,
	2014		2013
Equipment	$	926,654	$	896,376
Furniture and leasehold improvements		1,718,826		1,659,740
		2,645,480		2,556,116
Less accumulated depreciation and amortization		1,960,744		1,733,983
	$	684,736	$	822,133

Depreciation and amortization expense for 2014, 2013 and 2012 amounted to $226,761, $250,154 and $266,093 respectively.