v3.26.1
Property and Equipment
 3 Months Ended
Mar. 31, 2026
Property and Equipment  
Property and Equipment

6. Property and Equipment

 

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

 

 

 

MARCH 31,

 

 

DECEMBER 31,

 

 

 

2026

 

 

2025

 

 

 

(Unaudited)

 

Computer hardware and software

 

$2,940,287

 

 

$2,925,707

 

Furniture and fixtures

 

 

379,937

 

 

 

380,139

 

Leasehold improvements

 

 

277,341

 

 

 

279,762

 

Automobiles

 

 

80,829

 

 

 

136,651

 

Gross property and equipment

 

 

3,678,394

 

 

 

3,722,259

 

 

 

 

 

 

 

 

 

 

Less: accumulated depreciation

 

 

3,209,750

 

 

 

3,242,177

 

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

$468,644

 

 

$480,082

 

 

During the three months ended March 31, 2026 and 2025 property and equipment depreciation expense was approximately $86,500 and $116,190, respectively.

 

During the three months ended March 31, 2026, the Company sold fully depreciated property and equipment with historical cost and accumulated depreciation of $105,200 and received proceeds of $49,043. During the three months ended March 31, 2025, the Company disposed of fully depreciated property and equipment with historical cost and accumulated depreciation of $656,200 and did not receive any proceeds from the disposal.

 

There were no changes in the estimated useful lives used to depreciate property and equipment during the three month periods ended March 31, 2026 and 2025.