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Fixed Assets | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2024 | Dec. 31, 2023
Property, Plant and Equipment [Abstract] |  |
Fixed Assets | Note 4. Fixed Assets Fixed assets, net, is summarized as follows as of: Schedule of Fixed Assets, Net
|  | September 30, 2024 |  |  | December 31, 2023 |
Land |  | $ | 253,781 |  |  | $ | 260,460 |
Building |  |  | 2,949,900 |  |  |  | 3,022,490 |
Machinery and Equipment |  |  | 4,730,617 |  |  |  | 4,464,317 |
Computer Systems and Website & Other |  |  | 290,662 |  |  |  | 290,661 |
Total Fixed Assets |  |  | 8,224,960 |  |  |  | 8,037,928 |
Less: accumulated depreciation |  |  | (1,991,365 | ) |  |  | (1,215,786 | )
Fixed asset, net |  | $ | 6,233,595 |  |  | $ | 6,822,142 |
Depreciation expense of fixed assets for the nine months ended September 30, 2024 and 2023 was $574,719 and $646,538, respectively. Substantially, all the Company’s fixed assets are located at the Company’s Hungary location. SHARPS TECHNOLOGY, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2023 | Note 4. Fixed Assets Fixed asset, net, as of December 31, 2023 and 2022, are summarized as follows: Schedule of Property, Plant and Equipment
|  | December 31, 2023 |  |  | December 31, 2022 |
Land |  | $ | 260,460 |  |  | $ | 242,240 |
Building |  |  | 3,022,490 |  |  |  | 2,824,481 |
Machinery and Equipment |  |  | 4,464,317 |  |  |  | 4,601,293 |
Computer and Website |  |  | 290,661 |  |  |  | 16,600 |
Total Fixed Assets |  |  | 8,037,928 |  |  |  | 7,684,614 |
Less: accumulated depreciation |  |  | (1,215,786 | ) |  |  | (679,724 | )
Fixed asset, net |  | $ | 6,822,142 |  |  | $ | 7,004,890 |
Depreciation expense of fixed assets for the year ended December 31, 2023 and 2022 was $876,064 and $647,690, respectively. Substantially, all of the Company’s fixed assets are located at the Company’s Hungary location. In the fourth quarter of 2023, the Company recorded, in Research and Development expenses, an asset impairment of $560,000 relating to Molds, which were included in Machinery and Equipment, due to a decision to discontinue usage of certain molds. During the year ended December 2022, the Company recorded $63,612 in fixed asset costs relating to the estimated fair market value for options granted in 2021 for the acquired machinery. As of December 31, 2023, the Company has $100,000 in remaining payments for machinery purchased, which is included in accounts payable.

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