Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

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Property and Equipment
 9 Months Ended
Sep. 30, 2016
Property, Plant and Equipment [Abstract]  
Property and Equipment

5. PROPERTY AND EQUIPMENT

 

Property and equipment consists of the following:

 

    September 30, 2016     December 31, 2015  
Leasehold improvements   $ 10,336,084     $ 10,094,130  
Restaurant furniture and equipment     6,664,151       6,243,196  
Construction in progress     207,552       -  
Office and computer equipment     8,025       5,470  
Land and buildings     814,367       708,020  
Office furniture and fixtures     108,030       104,406  
      18,138,209       17,155,222  
Accumulated depreciation and amortization     (6,606,987 )     (5,011,158 )
    $ 11,531,222     $ 12,144,064  

 

Restaurant furnishings and equipment includes assets under capital leases from our South African restaurants totaling $180,525 and $196,100 at cost and $20,413 and $53,497 net book value as of September 30, 2016 and December 31, 2015, respectively.