Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.5.0.2
Property and Equipment
 6 Months Ended
Jun. 30, 2016
Property, Plant and Equipment [Abstract]  
Property and Equipment

5. PROPERTY AND EQUIPMENT

 

Property and equipment consists of the following:

 

    June 30, 2016     December 31, 2015  
Leasehold improvements   $ 10,202,863     $ 10,094,130  
Restaurant furniture and equipment     6,498,400       6,243,196  
Construction in progress     64,441       -  
Office and computer equipment     8,025       5,470  
Land and buildings     757,560       708,020  
Office furniture and fixtures     108,030       104,406  
      17,639,319       17,155,222  
Accumulated depreciation and amortization     (6,039,345 )     (5,011,158 )
    $ 11,599,974     $ 12,144,064  

 

Restaurant furnishings and equipment includes assets under capital leases from our South African restaurants totaling $158,681 and $196,100 at cost and $32,901 and $53,497 net book value as of June 30, 2016 and December 31, 2015, respectively.