Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

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Property and Equipment
9 Months Ended
Sep. 30, 2018
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
 
The net carrying value of property and equipment was as follows as of:
September 30, 2018 December 31, 2017
Furniture and fixtures  $ 293,152  $ 288,536 
Equipment  1,525,057  1,509,464 
Capitalized internal use and purchased software  8,809,333  7,582,181 
Leasehold improvements  421,016  455,850 
Subtotal  11,048,558  9,836,031 
Less: accumulated depreciation and amortization  (8,787,591) (7,529,752)
Total  $ 2,260,967  $ 2,306,279 
During the three and nine months ended September 30, 2018, depreciation expense was $457,272 and $1,343,247, respectively. During the three and nine months ended September 30, 2017, depreciation expense was $406,014 and $1,077,143, respectively.