v3.26.1
Property and Equipment
 12 Months Ended
Dec. 31, 2025
Property and Equipment  
Property and Equipment

7. Property and Equipment

 

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

 

 

 

DECEMBER 31,

 

 

DECEMBER 31,

 

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

Computer hardware and software

 

$2,925,707

 

 

$3,052,569

 

Furniture and fixtures

 

 

380,139

 

 

 

382,419

 

Leasehold improvements

 

 

279,762

 

 

 

157,715

 

Automobiles

 

 

136,651

 

 

 

127,233

 

Gross property and equipment

 

 

3,722,259

 

 

 

3,719,936

 

 

 

 

 

 

 

 

 

 

Less: accumulated depreciation and

 

 

3,242,177

 

 

 

3,175,213

 

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

$480,082

 

 

$544,723

 

 

During the years ended December 31, 2025 and 2024, the Company purchased for cash property and equipment totaling approximately $237,400 and $117,900, respectively.

 

During the years ended December 31, 2025 and 2024, property and equipment depreciation expense was approximately $740,200 and $353,400, respectively.

 

During the year ended December 31, 2025, the Company disposed of owned property and equipment with historical cost of $775,000 and accumulated depreciation of $766,800 and recognized a loss on disposal of property and equipment of $8,200.

 

There were no changes in the estimated useful lives used to depreciate property and equipment during the years ended December 31, 2025 and 2024.