General form of registration statement for all companies including face-amount certificate companies

PROPERTY AND EQUIPMENT

v2.4.0.6
PROPERTY AND EQUIPMENT
12 Months Ended
Dec. 31, 2011
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
5. PROPERTY AND EQUIPMENT

 

Property and equipment consists of the following at December 31, 2011 and 2010:

 

    2011     2010  
             
Office and computer equipment   $ 32,179     $ 29,371  
Furniture and fixtures     67,794       47,686  
Construction in progress     296,660       -  
Restaurant furnishings and equipment     2,246,089       -  
      2,642,722       77,057  
Accumulated depreciation     (133,899 )     (51,494 )
    $ 2,508,823     $ 25,563  

 

Construction in progress consists of costs incurred as of December 31, 2011 for our Emperor’s Palace location in Johannesburg, South Africa, which opened in February 2012. Restaurant furnishings and equipment consists of leasehold improvements, and bar, kitchen and restaurant equipment used in our three locations opened as of December 31, 2011.