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

Property, Equipment, Improvements and Intangible Assets

v3.8.0.1
Property, Equipment, Improvements and Intangible Assets
 9 Months Ended
Sep. 30, 2017
Property, Plant and Equipment [Abstract]  
Property, Equipment, Improvements and Intangible Assets

NOTE 3. PROPERTY, EQUIPMENT, IMPROVEMENTS AND INTANGIBLE ASSETS

Property, equipment and improvements consisted of the following:

 

     As of
December 31,		      As of
September 30, 2017		  
     2016      2015      (Unaudited)  

Property and equipment

    $ 164      $ 116      $ 169  

Leasehold improvements

      12        12        23  
  

 

 

     

 

 

     

 

 

  
     176        128        192  

Less: accumulated depreciation

      (108 )       (76 )       (140 ) 
  

 

 

     

 

 

     

 

 

  

Property, equipment and improvements, net

    $ 68      $ 52      $ 52  
  

 

 

     

 

 

     

 

 

  

Depreciation expense was $32 and $26 for the years ended December 31, 2016 and 2015, respectively. Depreciation expense was $32 (unaudited) and $21 (unaudited) for the nine months ended September 30, 2017 and 2016, respectively.

Patents

In March 2016, the Company stopped pursuing a patent for technology it acquired in 2014 and as a result, it recorded a charge of $500 in general and administrative expenses in its statement of operations to fully impair the patent. In July 2015, the Company stopped pursuing a patent for technology it acquired in July 2014 and, as a result, it recorded a charge of $500 in general and administrative expenses in its statement of operations to fully impair the patent.

Capitalized Software

Capitalized software consisted of the following:

 

     As of
December 31,		      September 30,
2017		  
     2016      2015      (Unaudited)  

Capitalized software

    $ 471      $ 471      $ 471  

Less: accumulated amortization

      (150 )       (31 )       (294 ) 
  

 

 

     

 

 

     

 

 

  

Capitalized software, net

    $ 321      $ 440      $ 177  
  

 

 

     

 

 

     

 

 

  

Amortization expense related to capitalized software costs was $119 and $31 for the years ended December 31, 2016 and 2015. Amortization expense related to capitalized software costs was $145 (unaudited) and $71 (unaudited) for the nine months ended September 30, 2017 and 2016. The expected annual amortization expense related to capitalized software costs as of December 31, 2016 is $193 in 2017 and $128 in 2018, for a total expected amortization expense of $321.