Quarterly report pursuant to Section 13 or 15(d)

NOTE 4 - PROPERTY AND EQUIPMENT

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NOTE 4 - PROPERTY AND EQUIPMENT
3 Months Ended
Mar. 31, 2017
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
NOTE 4 – PROPERTY AND EQUIPMENT

Property and equipment as of March 31, 2017 and December 31, 2016 is summarized as follows:

 
 
March 31,
2017
   
December 31,
2016
 
Computer equipment
 
$
86,324
   
$
84,704
 
Furniture and fixtures
   
10,117
     
10,117
 
Subtotal
   
96,441
     
94,821
 
Less accumulated depreciation
   
(73,702
)
   
(70,633
)
Property and equipment, net
 
$
22,739
   
$
24,188
 

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 $3,069 and $2,908 for the three months ended March 31, 2017 and 2016, respectively.