Annual report pursuant to Section 13 and 15(d)

Premises and Equipment

v3.7.0.1
Premises and Equipment
12 Months Ended
Dec. 31, 2016
Premises and Equipment [Abstract]  
PREMISES AND EQUIPMENT
4. PREMISES AND EQUIPMENT

 

Premises and equipment at December 31, 2016 and 2015 consists of the following:

 

      December 31,  
      2016     2015  
  Vehicle   $ 102,014     $ 32,191  
  Leasehold improvements     131,411       55,297  
  Furniture, fixtures and equipment     389.396       203,753  
        622,821       291,241  
  Accumulated depreciation     (72,967 )     (20,005)  
                   
      $ 549,854     $ 271,236  

 

Depreciation expense amounted to $52,962 and $16,436 for the years ended December 31, 2016 and 2015. respectively.