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Property and Equipment
 6 Months Ended
Jun. 30, 2025
Property and Equipment  
Property and Equipment

Note 3 – Property and Equipment

 

The net carrying value of property and equipment was as follows as of:

 

 

 

June 30, 2025

 

 

December 31, 2024

 

Furniture and fixtures

 

$269,122

 

 

$293,152

 

Equipment

 

 

1,051,655

 

 

 

1,192,071

 

Capitalized internal use and purchased software

 

 

18,691,263

 

 

 

17,940,976

 

Leasehold improvements

 

 

466,958

 

 

 

465,885

 

Subtotal

 

 

20,478,998

 

 

 

19,892,084

 

Less: accumulated depreciation and amortization

 

 

(18,723,503)

 

 

(18,099,181)

Total

 

$1,755,495

 

 

$1,792,903

 

 

During the three months ended June 30, 2025 and June 30, 2024, depreciation and amortization expense was $445,183 and $430,676, respectively. During the six months ended June 30, 2025 and June 30, 2024, depreciation and amortization expense was $895,849 and $857,754, respectively. During the three months ended June 30, 2025, we disposed of approximately $283 thousand of fully depreciated equipment that was no longer in use. As the equipment was fully depreciated, there was no cash inflow or outflow associated with this transaction, and no gain or loss was recorded.