Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT, NET

v3.7.0.1
PROPERTY AND EQUIPMENT, NET
6 Months Ended
Jun. 30, 2017
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
6. PROPERTY AND EQUIPMENT, NET
 
Property and equipment consisted of the following:
 
 
 
June 30,
 
December 31,
 
 
 
2017
 
2016
 
 
 
(Unaudited)
 
 
 
Furniture, fixtures and equipment
 
$
149,378
 
$
100,386
 
Leasehold improvements
 
 
352,086
 
 
298,965
 
Computer trading and clearing system
 
 
3,054,061
 
 
2,802,430
 
Sub-total
 
 
3,555,525
 
 
3,201,781
 
Less: accumulated depreciation
 
 
(1,481,453)
 
 
(1,136,599)
 
Property and equipment, net
 
$
2,074,072
 
$
2,065,182
 
 
Depreciation expense was $179,764 and $136,727 for the three months ended June 30, 2017 and 2016, respectively, and $347,906 and $239,700 for the six months ended June 30, 2017 and 2016, respectively.