Annual report pursuant to Section 13 and 15(d)

NOTE 4 - PROPERTY AND EQUIPMENT

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NOTE 4 - PROPERTY AND EQUIPMENT
12 Months Ended
Dec. 31, 2014
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block] NOTE 4 – PROPERTY AND EQUIPMENT
Property and equipment as of December 31, 2014 and 2013 is summarized as follows:

 
 
2014
 
 
2013
 
Computer equipment
 
$
54,900
 
 
$
50,937
 
Furniture and fixtures
 
 
7,803
 
 
 
7,803
 
Subtotal
 
 
62,703
 
 
 
58,740
 
Less accumulated depreciation
 
 
(49,683
)
 
 
(33,874
)
Property and equipment, net
 
$
13,020
 
 
$
24,866
 

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 $15,809 and $17,059 at December 31, 2014 and 2013, respectively.