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- PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2015
PROPERTY AND EQUIPMENT (Tables) [Abstract]  
- PROPERTY AND EQUIPMENT

NOTE 4 - PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following as of:

 

 

 

December 31,

 

 

 

2015

 

 

2014

 

 

 

 

 

 

 

 

Leasehold improvements

 

 

-

 

 

 

15,141

 

 

 

 

 

 

 

 

 

 

Equipment

 

 

69,473

 

 

 

500,821

 

 

 

 

 

 

 

 

 

 

Software

 

 

414,944

 

 

 

758,441

 

 

 

 

 

 

 

 

 

 

Total

 

 

484,417

 

 

 

1,274,403

 

 

 

 

 

 

 

 

 

 

Less accumulated depreciation and amortization

 

 

(484,417

)

 

 

(1,274,403

)

 

 

 

 

 

 

 

 

 

Property and equipment - net

 

 

-

 

 

 

-

 

 

Property and equipment are depreciated over 3 to 5 years using the straight line, half year convention. The number of years is dependent upon the useful life of the equipment. Depreciation expense was approximately $-0- and $6,000 for the years ended December 31, 2015 and 2014, respectively. Depreciation expense is included in general and administrative expense.