Note 4 - Property and Equipment
 12 Months Ended
Dec. 31, 2016
Notes  
Note 4 - Property and Equipment

NOTE 4—PROPERTY AND EQUIPMENT

 

Furniture, fixtures, and equipment, stated at cost, less accumulated depreciation consisted of the following at December 31:

 

 

 

2016

 

2015

 

 

 

 

 

Furniture, fixtures, and equipment

 

$   8,403

 

$   8,403

Less: accumulated depreciation

 

(4,637)

 

(3,225)

Loss on disposal

 

(3,766)

 

-

Fixed assets, net

 

$          -

 

$   5,178

 

During the year ended December 31, 2016, we disposed of $8,403 of office furniture we were no longer using, resulting in a loss on disposal of $3,766.

 

Depreciation Expense

Depreciation expense for the years ended December 31, 2016 and 2015, was $1,412 and $2,810, respectively.

 

Software, stated at cost, less accumulated amortization consisted of the following at December 31:

 

 

2016

 

2015

Software

$221,000

 

$                     -

Less: accumulated amortization

(40,264)

 

-

Fixed assets, net

$180,736

 

$                     -

 

Amortization Expense

Amortization expense for the software for the years ended December 31, 2016 and 2015, was $40,264 and $0, respectively.