SOFTWARE, PROPERTY AND EQUIPMENT, NET |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
| SOFTWARE, PROPERTY AND EQUIPMENT, NET |
NOTE 4 SOFTWARE, PROPERTY AND EQUIPMENT, NET
Software, property and equipment, net consists of the following:
At December 31, 2015, the Company had software under capital leases with gross value of $24,671, net of accumulated depreciation and amortization of $15,419. The software was included in the disposal of assets to Precisions CNC discussed below in Note 6; however, the Company must continue to pay all outstanding amounts under the capital leases, a balance of $1,586 as of September 30, 2016.
Depreciation and amortization expense for the three months ended September 30, 2016 and 2015 was $493 and $13,267, respectively, and for the nine months ended September 30, 2016 and 2015 was $27,026 and $26,600, respectively.
The Company disposed of $70,495 of net software, property and equipment for the settlement of related party accounts payable during the nine months ended September 30, 2016 (see Note 6). |
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