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PROPERTY AND EQUIPMENT | 12 Months Ended
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Dec. 31, 2022
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT |
| 6. | PROPERTY AND EQUIPMENT
The components of property and equipment consist of the following:
|  | December 31, |  |  | Estimated |
|  | 2022 |  |  | 2021 |  |  | Useful Life (years) |
Machinery and equipment |  | $ | 3,978,662 |  |  | $ | 3,978,662 |  |  |  | 5 to 7 |
Computer equipment |  |  | 4,191,040 |  |  |  | 4,191,040 |  |  |  | 5 |
Furniture and fixtures |  |  | 709,350 |  |  |  | 709,350 |  |  |  | 7 |
Automobiles and trucks |  |  | 13,162 |  |  |  | 13,162 |  |  |  | 5 |
Leasehold improvements |  |  | 2,629,615 |  |  |  | 2,588,826 |  |  |  | Lesser of lease term or 10 years |
Total gross property and equipment |  |  | 11,521,829 |  |  |  | 11,481,040 |  |  |  |  |
Less accumulated depreciation and amortization |  |  | (10,397,273 | ) |  |  | (9,834,177 | ) |  |  |  |
Total property and equipment, net |  | $ | 1,124,556 |  |  | $ | 1,646,863 |  |  |  |  |
Depreciation expense for the years ended December 31, 2022 and 2021 was $563,096 and $904,067, respectively. During the years ended December 31, 2022 and 2021, the Company did not acquire any property and equipment under finance leases. The assets acquired under finance leases as of December 31, 2022 and 2021, are as follows:
|  | December 31, |
|  | 2022 |  |  | 2021 |
Machinery and equipment |  | $ | 1,114,044 |  |  | $ | 1,114,044 |
Computer equipment |  |  | 527,188 |  |  |  | 527,188 |
Leasehold improvements |  |  | 399,800 |  |  |  | 399,800 |
Total assets acquired under finance leases |  |  | 2,041,032 |  |  |  | 2,041,032 |
Less accumulated depreciation and amortization |  |  | (1,698,476 | ) |  |  | (1,439,073 | )
Total assets acquired under finance leases, net |  | $ | 342,556 |  |  | $ | 601,959 |

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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