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

5. Property and Equipment, Net

 

 

 

Useful Lives

 

 

As of December 31,

 

 

 

 (Years)

 

 

2025

 

 

2024

 

Computer equipment

 

3-5

 

 

$

459,800

 

 

$

475,000

 

Machinery and equipment

 

3-7

 

 

 

1,167,200

 

 

 

1,084,300

 

Furniture and fixtures

 

4-10

 

 

 

44,100

 

 

 

103,700

 

Leasehold improvements

 

3-10

 

 

 

287,400

 

 

 

257,400

 

 

 

 

 

 

 

 

1,958,500

 

 

 

1,920,400

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less accumulated depreciation

 

 

 

 

 

$1,267,600

 

 

$1,124,100

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property and Equipment, Net

 

 

 

 

 

$690,900

 

 

$796,300

 

 

Depreciation expense was $258,500 and $243,000 for the years ended December 31, 2025 and 2024, respectively.

 

Certain Property and Equipment were sold as part of the sale of the Genie Division and are presented within the Gain on Sale of Discontinue Operations as further discussed in note 17.

 

During the year ended December 31, 2025, the Company wrote off fully depreciated property and equipment assets for the cost amount of $180,100 and for the accumulated depreciated amount of $180,100.

 

During the year ended December 31, 2024, the Company wrote off fully depreciated property and equipment assets for the cost amount of $29,600 and for the accumulated depreciated amount of $29,600.