Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

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Property and Equipment
3 Months Ended
Mar. 31, 2018
Property, Plant and Equipment [Abstract]  
Property and Equipment

NOTE 3 – PROPERTY AND EQUIPMENT

 

Property and equipment are shown net of accumulated depreciation and are primarily comprised of the following: land; buildings; building and tenant improvements; furniture and fixtures; and machinery and equipment.

 

During the three months ended March 31, 2018 and 2017, additions to property and equipment were approximately $1.3 million and $1.8 million, respectively.

 

Depreciation expense for the three months ended March 31, 2018 and 2017 was approximately $81,000 and $70,000, respectively. At March 31, 2018 and December 31, 2017, accumulated depreciation approximated $1,580,000 and $1,499,000, respectively.