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Property and Equipment
 12 Months Ended
Dec. 31, 2024
Property and Equipment  
Property and Equipment

Note 4– Property and Equipment

 

The net carrying value of property and equipment at December 31, 2024 and 2023 was as follows:

 

 

 

2024

 

 

2023

 

Furniture and fixtures

 

$293,152

 

 

$293,152

 

Equipment

 

 

1,192,071

 

 

 

1,292,528

 

Capitalized software development costs

 

 

17,940,976

 

 

 

16,159,517

 

Leasehold improvements

 

 

465,885

 

 

 

458,885

 

Subtotal

 

 

19,892,084

 

 

 

18,204,082

 

Less: accumulated depreciation and amortization

 

 

(18,099,181)

 

 

(16,523,294)

Total

 

$1,792,903

 

 

$1,680,788

 

 

Depreciation and amortization  expense was $1,745,261 and $1,670,868, respectively, for the years ended December 31, 2024 and 2023. During the year ended December 31, 2024, we disposed of approximately $169,000 of fully depreciated equipment that was no longer in use. There was no cash inflow or outflow associated with this transaction, and no gain or loss was recorded.