| PROPERTY AND EQUIPMENT |
NOTE 4 – PROPERTY AND EQUIPMENT
The major classes of property and equipment are as
follows at December 31, 2023 and 2022:
| Schedule of property and equipment |
|
|
|
|
|
|
| |
|
December 31, |
|
|
December 31, |
|
| |
|
2023 |
|
|
2022 |
|
| Furniture & Fixtures |
|
$ |
132,018 |
|
|
$ |
115,238 |
|
| Tools and Equipment |
|
|
1,291,673 |
|
|
|
1,162,568 |
|
| Leasehold Improvements |
|
|
298,004 |
|
|
|
228,404 |
|
| Internal Use Software |
|
|
381,441 |
|
|
|
100,241 |
|
| Property, Plant and Equipment, Gross |
|
|
2,103,136 |
|
|
|
1,606,451 |
|
| Accumulated Depreciation |
|
|
(1,376,629 |
) |
|
|
(976,961 |
) |
| Property, Equipment and Software, net |
|
$ |
726,507 |
|
|
$ |
629,490 |
|
| |
|
|
|
|
|
|
| |
|
December 31, |
|
|
December 31, |
|
| |
|
2023 |
|
|
2022 |
|
| Internal Use Software consisted of the following: |
|
|
|
|
|
|
| Internal Use Software |
|
$ |
381,441 |
|
|
$ |
100,241 |
|
| Accumulated depreciation |
|
|
(133,149 |
) |
|
|
(57,032 |
) |
| Internal Use Software, net |
|
$ |
248,292 |
|
|
$ |
43,209 |
|
| |
|
|
|
|
|
|
|
|
| |
|
December 31, |
|
|
December 31, |
|
| |
|
2023 |
|
|
2022 |
|
| Depreciation Expense: |
|
|
|
|
|
|
|
|
| Property and equipment, excluding internal use software |
|
$ |
315,686 |
|
|
$ |
262,895 |
|
| Software amortization expense |
|
|
84,328 |
|
|
|
57,033 |
|
The following is a schedule of estimated future depreciation expense of software at December 31, 2023:
| |
Schedule of estimated future depreciation expense of software |
|
|
|
|
|
| |
2024 |
|
|
$ |
100,952 |
|
| |
2025 |
|
|
|
103,716 |
|
| |
2026 |
|
|
|
43,624 |
|
| |
|
|
|
$ |
248,292 |
|
Depreciation expense
in 2023 and 2022 was $315,686 and $267,959, respectively.
|