| Property and Equipment |
NOTE 10 - PROPERTY AND EQUIPMENT
Property and equipment consisted of the following:
| |
|
As of September 30, |
|
|
As of June 30, |
|
| |
|
2017 |
|
|
2017 |
|
| |
|
|
|
|
|
|
| Office Furniture and Equipment |
|
$ |
3,882,351 |
|
|
$ |
3,755,710 |
|
| Computer Equipment |
|
|
26,647,891 |
|
|
|
26,693,730 |
|
| Assets Under Capital Leases |
|
|
1,577,465 |
|
|
|
1,965,650 |
|
| Building |
|
|
9,164,885 |
|
|
|
9,243,866 |
|
| Land |
|
|
2,397,930 |
|
|
|
2,428,626 |
|
| Autos |
|
|
1,483,206 |
|
|
|
1,270,339 |
|
| Improvements |
|
|
587,033 |
|
|
|
592,652 |
|
| Subtotal |
|
|
45,740,761 |
|
|
|
45,950,573 |
|
| Accumulated Depreciation |
|
|
(26,094,169 |
) |
|
|
(25,579,870 |
) |
| Property and Equipment, Net |
|
$ |
19,646,592 |
|
|
$ |
20,370,703 |
|
For the three months ended September
30, 2017 and 2016, depreciation expense totaled $728,659 and $899,303, respectively. Of these amounts, $482,786 and $630,206, respectively,
are reflected in cost of revenues.
Following is a summary of fixed assets held under capital
leases as of September 30, 2017 and June 30, 2017:
| |
|
As of September 30, |
|
|
As of June 30, |
|
| |
|
2017 |
|
|
2017 |
|
| Computers and Other Equipment |
|
$ |
232,497 |
|
|
$ |
309,863 |
|
| Furniture and Fixtures |
|
|
145,258 |
|
|
|
227,914 |
|
| Vehicles |
|
|
1,199,710 |
|
|
|
1,427,873 |
|
| Total |
|
|
1,577,465 |
|
|
|
1,965,650 |
|
| Less: Accumulated Depreciation - Net |
|
|
(549,043 |
) |
|
|
(711,622 |
) |
| |
|
$ |
1,028,422 |
|
|
$ |
1,254,028 |
|
|