Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

v2.4.0.8
PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2013
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
6.
PROPERTY AND EQUIPMENT
 
Property and equipment consists of the following at December 31, 2013 and 2012:
 
 
 
2013
 
2012
 
 
 
 
 
 
 
 
 
Office and computer equipment
 
$
50,780
 
$
35,076
 
Furniture and fixtures
 
 
47,686
 
 
47,686
 
Restaurant furnishings and equipment
 
 
6,716,666
 
 
2,826,760
 
 
 
 
6,815,132
 
 
2,909,522
 
Accumulated depreciation and amortization
 
 
(1,194,943)
 
 
(593,376)
 
 
 
$
5,620,189
 
$
2,316,146
 
 
Restaurant furnishings and equipment consists of leasehold improvements, and bar, kitchen and restaurant equipment used in our five locations opened as of December 31, 2013. Depreciation and amortization expense was $591,142 and $364,645 for the years ended December 31, 2013, and December 31, 2012, respectively, including $78,742 and $35,314 for capital lease assets. Restaurant furnishings and equipment includes capital lease assets from our South African restaurants of $263,392 and $141,413, with a net book value of $158,446 and $96,230 at December 31, 2013 and December 31, 2012, respectively. Non-restaurant related depreciation expense totaled $6,797 and $8,768 for the years ended December 31, 2013 and 2012, respectively.