Property and equipment, net
|12 Months Ended|
Dec. 31, 2016
|Property, Plant and Equipment [Abstract]|
|Property and equipment, net||
Property and equipment, net.
Property and equipment, net consist of the following:
Depreciation and amortization related to property and equipment included in continuing operations amounted to $2,647,333 and $2,191,450 in the years ended December 31, 2016 and 2015, respectively.
Furniture, fixtures and equipment includes $684,983 and $300,734, respectively at December 31, 2016 and 2015, of assets not yet put into service at our locations under construction.
In 2016, the Company liquidated STK Edinburgh and accordingly, wrote-off $1,117,131 in capital assets and the related liabilities of $1,021,358, resulting in an impairment charge of $95,773.
At December 31, 2015, the Company took an impairment charge on the assets of our STK in Washington DC and the remaining assets of the shuttered STKOUT Midtown and BBCLV and wrote off gross assets of $3,452,206 and accumulated depreciation of $476,462.
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