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Fixed Assets
 12 Months Ended
Dec. 31, 2023
Fixed Assets  
Fixed Assets

Note 5 — Fixed Assets, Net

Fixed Assets consisted of the following:

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​

​

​

​

​

​

​

​

​

December 31, 

​

December 31, 

​

    

2023

    

2022

Tooling and Manufacturing Equipment

​

$

7,693,192

​

$

6,065,445

Leaseholds

​

 

4,262,695

​

 

826,329

Computers and Purchased Software

​

 

833,794

​

 

760,256

Furniture and Equipment

​

 

2,580,904

​

 

2,487,650

​

​

 

15,370,585

​

 

10,139,680

Less: Accumulated Depreciation

​

 

(7,297,755)

​

 

(6,261,175)

Fixed Assets, Net

​

$

8,072,830

​

$

3,878,505

​

Total depreciation expense for fixed assets for the years ended December 31, 2023, 2022 and 2021 was $1,036,578, $869,502, and $1,306,479, respectively.

During the twelve months ended December 31, 2023, the Company invested $5,323,483 in tooling and manufacturing equipment and leasehold improvements, mostly attributable to the Company’s new waveguide expansion project. Construction on the Company’s new waveguide facility in a leased building began late in December 2022 and was completed and placed into service in November 2023.