PALTALK, INC. - POS AM filing on 2014-03-25

Fixed Assets and Intangible Assets, Net

9 Months Ended

12 Months Ended

Sep. 30, 2013

Dec. 31, 2013

Fixed Assets and Intangible Assets, Net [Abstract]

Fixed Assets and Intangible Assets, Net

7. Fixed Assets and Intangible Assets, Net

Fixed assets and intangible assets, net consisted of the following at September 30, 2013 and December 31, 2012:

	September 30,			December 31,
	2013			2012
	(Unaudited)
Computer equipment	$	252,878		$	211,896
Furniture and fixtures		142,856			142,856
Leasehold improvements		382,376			377,727
Software		10,968			8,047
Website domain name		124,938			24,938
Website costs		40,500			40,500
Total fixed assets		954,516			805,964
Less: Accumulated depreciation and amortization		(387,434	)		(257,415	)
Total fixed assets and intangible assets, net	$	567,082		$	548,549

The Company only holds fixed assets in the United States. Depreciation and amortization expense for the nine months ended September 30, 2013 was $130,020, as compared to $112,509 for the nine months ended September 30, 2012.

On January 23, 2013, the Company issued 100,000 shares of common stock with a fair value of $100,000 to an unrelated third party in exchange for the AYI.com domain name (See Note 13).

7. Fixed Assets and Intangible Assets, Net

Fixed assets and intangible assets, net consisted of the following at:

	December 31,			December 31,
	2013			2012
Computer equipment	$	252,879		$	211,896
Furniture and fixtures		142,856			142,856
Leasehold improvements		382,376			377,727
Software		10,968			8,047
Website domain name		124,938			24,938
Website costs		40,500			40,500
Total fixed assets		954,517			805,964
Less: Accumulated depreciation and amortization		(432,055	)		(257,415	)
Total fixed assets and intangible assets, net	$	522,462		$	548,549

The Company only holds fixed assets in the United States. Depreciation and amortization expense was $174,640 and $151,007 for the years ended December 31, 2013 and 2012, respectively.