Quarterly report pursuant to Section 13 or 15(d)

NOTE 4 - PROPERTY AND EQUIPMENT

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NOTE 4 - PROPERTY AND EQUIPMENT
6 Months Ended
Jun. 30, 2019
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]

NOTE 4 – PROPERTY AND EQUIPMENT


Property and equipment as of June 30, 2019 and December 31, 2018 is summarized as follows:


   

June 30,

2019

   

December 31,

2018

 

Computer equipment

  $ 108,619     $ 105,447  

Furniture and fixtures

    50,364       32,619  

Subtotal

    158,983       138,066  

Less accumulated depreciation

    (81,237

)

    (93,720

)

Property and equipment, net

  $ 77,746     $ 44,346  

Property and equipment are stated at cost and depreciated using the straight-line method over their estimated useful lives of 3 to 5 years. When retired or otherwise disposed, the related carrying value and accumulated depreciation are removed from the respective accounts and the net difference less any amount realized from disposition, is reflected in earnings.


Depreciation expense was $6,632 and $11,841 for three and six months ended June 30, 2019; and $2,926 and $5,829 for the three and six months ended June 30, 2018, respectively.