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PROPERTY AND EQUIPMENT, NET
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET

NOTE 7 — PROPERTY AND EQUIPMENT, NET

 

Property and equipment, net, consist of the following:

 

   June 30, 2026   December 31, 2025 
Furniture and Fixtures 

$

125,977   $125,977 
Machinery equipment 

$

360,868   $360,868 
Vehicles 

$

737,086   $539,028 
Electronic equipment 

$

35,303   $35,303 
Leasehold improvement 

$

90,974   $90,974 
Subtotal 

$

1,350,208   $1,152,150 
Less: accumulated depreciation and amortization 

$

(365,152)  $(696,072)
Property and equipment, net 

$

985,056   $456,078 

 

Depreciation expense was $66,447 and $33,503 for the three months ended June 30, 2026 and 2025, respectively, and $105,509 and $67,005 for the six months ended June 30, 2026 and 2025, respectively.

 

Property and equipment additions were $406,376 and nil for the three months ended June 30, 2026 and 2025, respectively, and $668,834 and nil for the six months ended June 30, 2026 and 2025, respectively. There was no disposal during the second quarter of 2026. During the six months ended June 30, 2026, the Company received $10,000 of proceeds and recorded a $24,346 loss on disposal.

 

No impairment loss was recorded for the three and six months ended June 30, 2026 and 2025.

 

 

MASSIMO GROUP AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)