PROPERTY AND EQUIPMENT

3 Months Ended

Mar. 31, 2015

Note 3 – Property and Equipment

Property and equipment consist of the following at March 31, 2015 and December 31, 2014:

	2015			2014
	(in thousands)
Computer equipment and purchased software (3 years)	$	1,329		$	1,372
Internally developed software either placed or not yet placed in service (5 years)		989			907
Furniture and fixtures and leasehold improvements (5 – 7 years)		154			156
		2,472			2,435
Less: accumulated depreciation and amortization		(1,495	)		(1,415	)
Property and equipment, net	$	977		$	1,020

Depreciation and amortization expense related to property and equipment for the three months ended March 31, 2015 and 2014 was approximately $80,000 and $83,000, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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