Annual report pursuant to Section 13 and 15(d)

Premises and Equipment

v3.8.0.1
Premises and Equipment
12 Months Ended
Dec. 31, 2017
Premises and Equipment [Abstract]  
PREMISES AND EQUIPMENT
4. PREMISES AND EQUIPMENT

 

Premises and equipment at December 31, 2017 and 2016 consists of the following:

 

      December 31,  
      2017     2016  
  Vehicle   $ 243,264     $ 102,014  
  Leasehold improvements     181,724       131,411  
  Furniture, fixtures and equipment     1,057,902       389.396  
        1,482,890       622,821  
  Accumulated depreciation     (223,407 )     (72,967  
                   
  Property and equipment, net   $ 1,259,483     $ 549,854  

 

Depreciation expense was $150,440 and $52,962 for the years ended December 31, 2017 and 2016, respectively.