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Property and Equipment
 12 Months Ended
Dec. 31, 2023
Property and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 4 – PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

 

   Years Ended
December 31,		 
   2023   2022 
         
Vehicles  $149,916   $149,916 
Computer equipment   363,141    348,408 
Furniture and fixtures   332,804    461,352 
Leasehold improvements   2,534,014    2,093,812 
Development equipment   294,288    342,142 
Drones and base stations   3,928,958    - 
Machinery and Equipment   60,321    - 
Construction in progress   395,340    330,541 
    8,058,782    3,726,171 
Less: accumulated depreciation   (3,882,824)   (702,886)
Total property and equipment  $4,175,958   $3,023,285 

 

Depreciation expense for the years ended December 31, 2023 and 2022 was $844,833 and $449,458, respectively. For the year ended December 31, 2023, the Company recognized a loss on disposal of Computer equipment of $52,595. For the year ended December 31, 2022, the Company recognized a loss on disposal of obsolete Drones and base stations totaling $382,060. Loss on disposal of assets is included in Other income (expense), net in the Company’s Consolidated Statements of Operations for the years ended December 31, 2023 and 2022. As of December 31, 2023, there was $1,939,716 of net property and equipment located in Israel and $298,363 of net property and equipment located in United Arab Emirates.

 

In connection with the American Robotics sublease effective January 15, 2024, see Note – 2 Summary of Significant Account Policies, Leases, the Company recorded an impairment charge of $1,127,769 related to the Leasehold improvements and Furniture and fixtures associated with the Asset Group, which is included in General and administrative expenses in the Company’s Consolidated Statements of Operations for the year ended December 31, 2023.