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Property and Equipment, net (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2019
Dec. 31, 2018
Property and Equipment, net    
Schedule of property and equipment

 

 

 

 

 

 

 

 

    

September 30, 

    

December 31, 

 

 

2019

 

2018

Furnitures and office equipment

 

 

602,548

 

 

357,064

Vehicle

 

 

60,951

 

 

63,135

Leasehold improvements

 

 

239,781

 

 

200,435

Total property and equipment

 

 

903,280

 

 

620,634

Less: accumulated depreciation

 

 

(482,548)

 

 

(186,514)

 

 

 

 

 

 

 

Land

 

 

3,042,777

 

 

3,042,777

Building1

 

 

308,779

 

 

2,607,666

Assets Retirement Obligations - Environmental Remediation

 

 

8,000,000

 

 

8,000,000

Capitalized direct development cost

 

 

2,732,705

 

 

944,864

Construction in progress (Fintech Village)

 

 

14,084,261

 

 

14,595,307

 

 

 

 

 

 

 

Property and Equipment, net

 

$

14,504,993

 

$

15,029,427

 

Note

1  The $2.3 million decrease from the prior year represents the impairment charge recorded in connection with four of the five existing buildings on Fintech Village which are expected to be demolished.

 

 

 

 

 

 

 

 

 

    

December 31, 

    

December 31, 

 

 

2018

 

2017

Furniture and office equipment

 

$

357,064

 

$

308,383

Vehicle

 

 

63,135

 

 

147,922

Leasehold improvements

 

 

200,435

 

 

8,058

Total property and equipment

 

 

620,634

 

 

464,363

Less: accumulated depreciation

 

 

(186,514)

 

 

(337,088)

Construction in progress (Fintech Village)

 

 

14,595,307

 

 

 —

Property and Equipment, net

 

$

15,029,427

 

$

127,275