Property and Equipment and Intangible Assets |
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| Property and Equipment and Intangible Assets [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property and Equipment and Intangible Assets |
Property and equipment are stated at cost less accumulated depreciation and amortization and depreciated using the straight-line method over their useful lives. At June 30, 2025 and December 31, 2024 the Company’s property and equipment, net consisted of the following:
Included in property and equipment is $2,211,471 and $0 of finance lease right of use assets as of June 30, 2025 and December 31, 2024, respectively.
Depreciation expense for the three months ended June 30, 2025 and 2024 amounted to $143,210 and $0, respectively of which $19,423 and $0 related to finance leases. Depreciation expense for the six months ended June 30, 2025 and 2024 amounted to $144,685 and $356, respectively $19,423 and $0 related to finance leases.
At June 30, 2025 and December 31, 2024 the Company’s intangible assets consisted of the following:
Amortization expense for the three months ended June 30, 2025 and 2024 amounted to $37,506 and $0, respectively. Amortization expense for the six months ended June 30, 2025 and 2024 amounted to $62,510 and $0, respectively.
The following table represents the total estimated amortization of intangible assets for the succeeding years:
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