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PROPERTY AND EQUIPMENT
 6 Months Ended
Jun. 30, 2024
PROPERTY AND EQUIPMENT  
PROPERTY AND EQUIPMENT

NOTE 5. PROPERTY AND EQUIPMENTx

 

 Property and equipment consist of the following at:

 

 

 

June 30, 2024

(Unaudited)

 

 

December 31, 2023

 

Furniture and fixtures

 

$458,651

 

 

$364,819

 

Equipment

 

 

2,269,185

 

 

 

2,269,185

 

Vehicles

 

 

66,170

 

 

 

66,170

 

Computer and software

 

 

312,000

 

 

 

306,656

 

Leasehold improvements

 

 

393,381

 

 

 

393,381

 

Tenant Improvement Allowance

 

 

405,000

 

 

 

405,000

 

Total cost of property and equipment

 

 

3,904,387

 

 

 

3,805,211

 

Less: Accumulated depreciation

 

 

2,920,786

 

 

 

2,756,569

 

Property and Equipment, net

 

$983,601

 

 

$1,048,642

 

 

For the three and six months ended June 30, 2024, depreciation was $71,677 and $144,720, respectively. For the three and six months ended June 30, 2023, depreciation was $86,786 and $171,789, respectively. For the three and six months ended June 30, 2024 and 2023, 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.