Quarterly report pursuant to Section 13 or 15(d)

NOTE 2 - PROPERTY AND EQUIPMENT

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NOTE 2 - PROPERTY AND EQUIPMENT
9 Months Ended
Sep. 30, 2015
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
NOTE 2 – PROPERTY AND EQUIPMENT

Property and equipment as of September 30, 2015 and December 31, 2014 is summarized as follows:

   
September 30,
2015
   
December 31,
2014
 
Computer equipment
 
$
62,072
   
$
54,900
 
Furniture and fixtures
   
9,602
     
7,803
 
Subtotal
   
71,674
     
62,703
 
Less accumulated depreciation
   
(57,631
)
   
(49,683
)
Property and equipment, net
 
$
14,043
   
$
13,020
 

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 $2,607 and $7,948 for the three and nine months ended September 30, 2015, respectively; and $3,893 and $12,462 for the three and nine months ended September 30, 2014, respectively.