Ideal Power Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

Note 4 - Property and Equipment

Note 4 - Property and Equipment

12 Months Ended

Dec. 31, 2024

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,
	2024			2023
Machinery and equipment	$	494,683		$	392,395
Software and IT equipment		142,474			150,745
Furniture and fixtures		66,807			24,848
Building leasehold improvements		18,984			10,245
		722,948			578,233
Accumulated depreciation and amortization		(307,716	)		(219,008	)
	$	415,232		$	359,225

Depreciation expense amounted to $125,888 and $81,703 for the years ended December 31, 2024 and 2023, respectively. During the year ended December 31, 2024, the Company wrote off $52,551 in property and equipment and related accumulated depreciation of $37,180 for a net write-off of $15,371 of which $10,293 is included in research and development expenses and $5,078 is included in general and administrative expenses in the accompanying statement of operations. During the year ended December 31, 2023, the Company wrote off $5,061 in fully depreciated property and equipment.