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PROPERTY AND EQUIPMENT
 6 Months Ended
Jun. 30, 2023
PROPERTY AND EQUIPMENT  
PROPERTY AND EQUIPMENT

NOTE 5. PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following at:

 

 

 

June 30, 2023

(Unaudited)

 

 

December 31,

2022

 

Furniture and fixtures

 

$364,819

 

 

$364,819

 

Equipment

 

 

2,269,185

 

 

 

2,236,510

 

Vehicles

 

 

66,170

 

 

 

60,703

 

Computer and software

 

 

302,791

 

 

 

246,638

 

Leasehold improvements

 

 

393,381

 

 

 

393,381

 

Tenant Improvement Allowance 

 

 

405,000

 

 

 

405,000

 

Total cost of property and equipment

 

 

3,801,346

 

 

 

3,707,051

 

Less: Accumulated depreciation

 

 

2,563,105

 

 

 

2,371,720

 

Property and Equipment, net

 

$1,238,241

 

 

$1,335,331

 

 

For the three and six months ended June 30, 2023, depreciation was $86,768 and $171,789, respectively For the three and six months ended June 30, 2022, depreciation was $79,123 and $158,173, respectively. For the three and six months ended June 30, 2023 and 2022, amortization of tenant improvement allowance was $9,798 and $19,597, respectively and was recorded as lease expense and included within general and administrative expense on the consolidated statement of operations.