Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v2.4.1.9
Property and Equipment
 12 Months Ended
Dec. 31, 2014
Property, Plant and Equipment [Abstract]  
Property and Equipment

6. PROPERTY AND EQUIPMENT

 

Property and equipment consists of the following at December 31, 2014 and 2013:

 

    December 31,  
    2014     2013  
Leasehold improvements   $ 9,940,517     $ 4,303,548  
Restaurant furniture and equipment     7,827,925       2,413,118  
Construction in progress     727,934       -  
Office and computer equipment     51,746       50,780  
Land and buildings     437,223       -  
Office furniture and fixtures     60,302       47,686  
      19,045,647       6,815,132  
Accumulated depreciation and amortization     (5,730,238 )     (1,194,943 )
    $ 13,315,409     $ 5,620,189  

 

Restaurant furnishings and equipment includes assets under capital leases from our South African restaurants $179,320 and $263,392, net book value of $59,261 and $158,446 as of December 31, 2014 and December 31, 2013, respectively. Depreciation and amortization expense $74,204 and $78,742 for capital lease assets for the year ended December 31, 2104 and 2013, respectively.