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Property and Equipment | 6 Months Ended
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Jun. 30, 2024
Property and Equipment |
Property and Equipment | 6. Property and Equipment Major classes of property and equipment consisted of the following as of the dates presented below:
|  | JUNE 30, |  |  | DECEMBER 31, |
|  | 2024 |  |  | 2023 |
|  | (Unaudited) |
Computer hardware and software |  | $ | 2,980,772 |  |  | $ | 3,355,488 |
Furniture and fixtures |  |  | 461,318 |  |  |  | 503,913 |
Leasehold improvements |  |  | 161,085 |  |  |  | 330,040 |
Automobiles |  |  | 128,586 |  |  |  | 128,994 |
Gross property and equipment |  |  | 3,731,761 |  |  |  | 4,318,435 |
Less: accumulated depreciation and amortization |  |  | 3,114,558 |  |  |  | 3,537,635 |
Property and equipment, net |  | $ | 617,203 |  |  | $ | 780,800 |
During the three and six month periods ended June 30, 2024 property and equipment depreciation expense was approximately $87,600 and $178,700, respectively. During the three and six month periods ended June 30, 2023, property and equipment depreciation expense was approximately $78,600 and 195,000, respectively. During the three month periods ended June 30, 2024, the Company disposed of fully depreciated property and equipment with a historical cost and accumulated depreciation of approximately $571,600. There were no material disposals of owned property and equipment during the three month period ended June 30, 2023. There were no changes in the estimated useful lives used to depreciate property and equipment during the three and six month periods ended June 30, 2024 and 2023.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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