v3.25.2
PROPERTY AND EQUIPMENT, NET
 6 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET

NOTE 6 — PROPERTY AND EQUIPMENT, NET

 

As of June 30, 2025 and December 31, 2024, property and equipment, net consist of the following:

 

   June 30,
2025		   December 31,
2024		 
Land  $1,799,372   $2,008,132 
Buildings and facilities attached to buildings   5,544,046    5,373,424 
Machinery, equipment and automobiles   4,500,722    4,312,270 
Aircraft   3,817,767    3,510,376 
Software   5,343,739    4,811,260 
Subtotal   21,005,646    20,015,462 
Less: accumulated depreciation   (10,235,056)   (8,749,391)
Less: accumulated impairment   (2,712,574)   (2,494,169)
Property and equipment, net  $8,058,016   $8,771,902 

 

Depreciation expense was $564,158 and $570,730 for the three months ended June 30, 2025 and 2024, respectively, and $1,169,040 and $1,315,539 for the six months ended June 30, 2025 and 2024, respectively.

 

The Company recognized a loss on disposal of property and equipment of $1,571 and a gain on disposal of property and equipment of $902 for the three months ended June 30, 2025 and 2024, respectively, and a gain on disposal of property and equipment of $10,804 and $902 for the six months ended June 30, 2025 and 2024, respectively.