Property and Equipment, net (Tables)

9 Months Ended

Sep. 30, 2019

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.