v3.26.3
PROPERTY AND EQUIPMENT, NET
6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET PROPERTY AND EQUIPMENT, NET
Property and equipment, net consisted of the following:
Estimated
Useful Lives
(in years)
June 30,
2026
December 31,
2025
Machinery and Equipment
5 to 20
$2,247,089 $2,739,210 
Leasehold ImprovementsLease term478,788 478,787 
Computer and Office Equipment
3 to 10
666,699 1,702,294 
Vehicles5272,560 272,560 
Construction in ProgressN/A— — 
Total Property and Equipment$3,665,136 $5,192,851 
Less: Accumulated Depreciation(2,774,621)(3,954,189)
Property and Equipment, net of Accumulated Depreciation$890,515 $1,238,662 
Depreciation expense related to property and equipment for the three months ended June 30, 2026 and 2025 was $33,643 and $273,928, respectively; and for the six months ended June 30, 2026 and 2025 was $64,426 and 570,456, respectively.
On October 23, 2025, the Company announced the Restructuring. As of December 31, 2025, the Company retired and expensed $2,146,790 of property, plant and equipment, net, and terminated leases. The net loss and other related expenses are reflected in the Company’s condensed consolidated financial statements as of December 31, 2025 as part of Restructuring (See Note 14 - Restructuring).