General form of registration statement for all companies including face-amount certificate companies

Property and Equipment, Net

v3.10.0.1
Property and Equipment, Net
 9 Months Ended 12 Months Ended
Sep. 30, 2018
Dec. 31, 2017
Property, Plant and Equipment [Abstract]    
Property and Equipment, Net

NOTE 4 – PROPERTY AND EQUIPMENT, net

 

Property and equipment, net, consists of the following as of:

 

   

September 30, 2018

(Unaudited)

     December 31, 2017  
Information technology equipment   $ -     $ 31,892  
Less accumulated depreciation     -       (29,991 )
Total property and equipment, net   $ -     $ 1,901  

 

Depreciation expense was $0 and $1,901, for the three and nine-months ended September 30, 2018, respectively, and $1,496 and $4,513, for the three and nine-months ended September 30, 2017, respectively.

 

During the nine-months ended September 30, 2018, Company wrote off its fully depreciated equipment. There was no gain or loss recognized for this write-off.

NOTE 4 – PROPERTY AND EQUIPMENT, net

 

Property and equipment, net, consists of the following as of December 31:

 

    2017     2016  
Information technology equipment   $ 31,892     $ 31,892  
Less accumulated depreciation     (29,991 )     (24,137 )
Total property and equipment, net   $ 1,901     $ 7,755  

 

Depreciation expense was $5,854 and $6,168, for the years ended December 31, 2017 and 2016, respectively.