PROPERTY AND EQUIPMENT, NET |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| PROPERTY AND EQUIPMENT, NET | NOTE 8: PROPERTY AND EQUIPMENT, NET Property and equipment consist of the following at fair value as of December 31:
During the year ended December 31, 2024, the Company recorded a loss on disposal of approximately $8,000 for a vehicle that was repossessed by the lender. The Company reduced the carrying value of the associated vehicle loan by the estimated fair value of the vehicle of approximately $23,000 as of the date of the repossession. During the year ended December 31, 2023, the Company abandoned vehicles with a net book value of $29,242 which is included in selling, general and administrative expenses on the accompanying consolidated statements of operations. Depreciation expense was $265,652 and $259,222 for the years ended December 31, 2024 and 2023, respectively. |
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