v3.25.1
Property and Equipment
 3 Months Ended
Mar. 31, 2025
Property and Equipment  
Property and Equipment

6. Property and Equipment

 

Major classes of property and equipment consisted of the following as of the dates presented below:

 

 

 

MARCH 31,

 

 

DECEMBER 31,

 

 

 

2025

 

 

2024

 

 

 

(Unaudited)

 

Computer hardware and software

 

$2,448,773

 

 

$3,052,569

 

Furniture and fixtures

 

 

379,351

 

 

 

382,419

 

Leasehold improvements

 

 

162,172

 

 

 

157,715

 

Automobiles

 

 

131,569

 

 

 

127,233

 

Gross property and equipment

 

 

3,121,865

 

 

 

3,719,936

 

Less: accumulated depreciation and amortization

 

 

2,631,278

 

 

 

3,175,213

 

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

$490,587

 

 

$544,723

 

 

During the three month periods ended March 31, 2025 and 2024 property and equipment depreciation expense was approximately $116,190 and $91,100, respectively.

 

During the three month period ended March 31, 2025, the Company disposed of fully depreciated property and equipment with historical cost and accumulated depreciation of $656,200. During the three month period ended March 31, 2024, there were no material disposals of property and equipment.

 

There were no changes in the estimated useful lives used to depreciate property and equipment during the three month periods ended March 31, 2025 and 2024.