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PROPERTY AND EQUIPMENT, NET
 9 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET

NOTE 7 — PROPERTY AND EQUIPMENT, NET

 

Property and equipment, net, consist of the following:

 

   September 30, 2025   December 31, 2024 
Furniture and Fixtures  $125,977   $125,977 
Machinery equipment   360,868    360,868 
Vehicles   473,667    473,667 
Electronic equipment   35,303    35,303 
Leasehold improvement   90,974    90,974 
Subtotal   1,086,789    1,086,789 
Less: accumulated depreciation and amortization   (594,120)   (554,530)
Property and equipment, net  $492,669   $532,259 

 

The Company recorded depreciation expense of $37,946 and $31,127 for the three months ended September 30, 2025 and 2024, respectively. The Company recorded depreciation expense of $104,951 and $98,111 for the nine months ended September 30, 2025 and 2024, respectively.

 

There was an addition of $65,361 and an addition of $424,164 on property and equipment during the nine months ended September 30, 2025 and 2024, respectively. There was no disposal of property and equipment during the three months ended September 30, 2025 and 2024, respectively. There was no disposal and disposal of property and equipment with the net book value of $126,000 with realized gain of $36,001 on the disposal during the nine months ended September 30, 2025 and 2024, respectively.

 

No impairment loss was recorded for the three and nine months ended September 30, 2025 and 2024.

 

 

MASSIMO GROUP AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)