Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.22.2.2
PROPERTY AND EQUIPMENT
6 Months Ended
Jun. 30, 2022
PROPERTY AND EQUIPMENT  
PROPERTY AND EQUIPMENT

NOTE 6 – PROPERTY AND EQUIPMENT

Property and equipment consist of the following at:

    

June 30, 2022

    

December 31, 2021

Equipment

$

144,370

$

222,222

Furniture and fixtures

 

332,179

 

341,769

Leasehold improvements

 

687,567

 

621,527

Total cost

 

1,164,116

 

1,185,518

Accumulated depreciation

 

(402,496)

 

(295,583)

Property and equipment, net

$

761,620

$

889,935

Depreciation expense was $143,205 and $76,064 for the six months ended June 30, 2022 and 2021, respectively. Depreciation expense was $72,094 and $57,910 for the three months ended June 30, 2022 and 2021, respectively. The decrease in equipment value is due to disposal of $96,770 of obsolete equipment. This equipment had previously been depreciated by $36,299.