Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

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Property and Equipment
3 Months Ended
Mar. 31, 2016
Property, Plant and Equipment [Abstract]  
Property and Equipment

5. PROPERTY AND EQUIPMENT

 

Property and equipment consists of the following:

 

    March 31, 2016     December 31, 2015  
Leasehold improvements   $ 12,255,039     $ 11,988,993  
Restaurant furniture and equipment     10,957,284       10,622,806  
Office and computer equipment     14,234       10,643  
Land and buildings     735,589       708,020  
Office furniture and fixtures     108,038       104,450  
      24,070,184       23,434,912  
Accumulated depreciation and amortization     (7,660,482 )     (6,793,680 )
    $ 16,409,702     $ 16,641,232  

 

Restaurant furnishings and equipment includes assets under capital leases from our South African restaurants totaling $168,734 and $196,100 at cost and $34,986 and $53,497 net book value as of March 31, 2016 and December 31, 2015, respectively.