| Property and Equipment |
NOTE 7 - PROPERTY AND EQUIPMENT
Property and equipment consisted of the following:
| |
|
As of
September 30, 2015
|
|
|
As of
June 30, 2015
|
|
| |
|
|
|
|
|
|
| Office Furniture and Equipment |
|
$ |
3,014,370 |
|
|
$ |
3,104,375 |
|
| Computer Equipment |
|
|
25,751,197 |
|
|
|
25,911,422 |
|
| Assets Under Capital Leases |
|
|
1,849,516 |
|
|
|
1,887,767 |
|
| Building |
|
|
8,639,818 |
|
|
|
8,743,130 |
|
| Land |
|
|
2,422,609 |
|
|
|
2,451,577 |
|
| Capital Work In Progress |
|
|
267,438 |
|
|
|
392,243 |
|
| Autos |
|
|
1,009,618 |
|
|
|
943,873 |
|
| Improvements |
|
|
317,943 |
|
|
|
204,779 |
|
| Subtotal |
|
|
43,272,509 |
|
|
|
43,639,166 |
|
| Accumulated Depreciation |
|
|
(19,218,601 |
) |
|
|
(18,519,532 |
) |
| Property and Equipment, Net |
|
$ |
24,053,908 |
|
|
$ |
25,119,634 |
|
For the three months ended September
30, 2015 and 2014, depreciation expense totaled $1,063,889, and $1,368,707, respectively. Of these amounts, $772,717, and $918,892,
respectively, is reflected in cost of revenues.
Following is a summary of fixed assets held under capital
leases as of September 30, 2015 and June 30, 2015:
| |
|
As of
September 30, 2015
|
|
|
As of
June 30, 2015
|
|
| Computers and Other Equipment |
|
$ |
577,929 |
|
|
$ |
590,625 |
|
| Furniture and Fixtures |
|
|
409,900 |
|
|
|
414,023 |
|
| Vehicles |
|
|
861,687 |
|
|
|
883,119 |
|
| Total |
|
|
1,849,516 |
|
|
|
1,887,767 |
|
| Less: Accumulated Depreciation - Net |
|
|
(576,314 |
) |
|
|
(577,215 |
) |
| |
|
$ |
1,273,202 |
|
|
$ |
1,310,552 |
|
|