Duos Technologies Group, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

NOTE 4 - PROPERTY AND EQUIPMENT

NOTE 4 - PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

NOTE 4 - PROPERTY AND EQUIPMENT

NOTE 4 – PROPERTY AND EQUIPMENT

The Company has total Property and Equipment as follows:

	December 31, 2014			December 31, 2013
Computer software (purchased)	$	590		$	590
Website development costs		10,072			10,072
Furniture, fixtures, and equipment		33,218			40,712
Leasehold improvements		1,664			1,664
		45,544			53,038
Less accumulated depreciation and amortization		(43,926	)		(40,447	)
	$	1,618		$	12,591

Depreciation expense was $4,126 and $5,715 for the years ended December 31, 2014 and 2013 respectively.

During the year of 2014, we sold a portion of our fixed assets upon moving locations and had cash proceeds of $1,725, resulting in loss on disposal in amount of $5,122.

- Definition

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.

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