Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.23.1
Property and Equipment
 3 Months Ended
Mar. 31, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment

NOTE 6 – PROPERTY AND EQUIPMENT

Property and equipment consist of the following at:

 

 

March 31, 2023

 

 

December 31, 2022

 

Equipment

 

$

388,814

 

 

$

402,675

 

Furniture and fixtures

 

 

1,007,699

 

 

 

1,007,699

 

Leasehold improvements

 

 

745,453

 

 

 

745,453

 

Total cost

 

 

2,141,966

 

 

 

2,155,827

 

Accumulated depreciation

 

 

(797,417

)

 

 

(649,745

)

Property and equipment, net

 

$

1,344,549

 

 

$

1,506,082

 

 

Depreciation expense was $154,076 and $71,111 for the three months ended March 31, 2023 and 2022, respectively.