Annual report pursuant to Section 13 and 15(d)

Note 4 - Property and Equipment

v3.24.1
Note 4 - Property and Equipment
 12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

Note 4 — Property and Equipment

 

Property and equipment, net consisted of the following:

 

   

December 31,

 
   

2023

    

2022

  

Machinery and equipment

   $ 392,395     $ 233,431  

Building leasehold improvements

     10,245       10,245  

Furniture, fixtures, software and IT equipment

     175,593       98,793  
      578,233       342,469  

Accumulated depreciation and amortization

     (219,008 )     (142,366 )
    $ 359,225     $ 200,103  

 

 

Depreciation expense amounted to $81,703 and $37,769 for the years ended December 31, 2023 and 2022, respectively. During the year ended December 31, 2023, the Company wrote-off $5,061 in fully depreciated property and equipment. During the year ended December 31, 2022, the Company wrote-off $937 in property and equipment.