5. Property and Equipment, net
|12 Months Ended|
Dec. 31, 2016
|Property, Plant and Equipment [Abstract]|
|Property and Equipment, net||
Property and equipment, net consists of the following:
In connection with the closing of its London office in March 2015, the Company disposed of approximately $247,000 of depreciated fixed assets with a net book value of approximately $6,000 for cash proceeds of approximately $8,000, resulting in a gain of approximately $2,000. Depreciation expense was $36,449 and $48,750 for the years ended December 31, 2016 and 2015, respectively.
The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.
Reference 1: http://www.xbrl.org/2003/role/presentationRef