Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.22.4
Property and Equipment
 12 Months Ended
Dec. 31, 2022
Property and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 4 – PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

 

    Years Ended
December 31,		  
    2022     2021  
             
Vehicles   $ 149,916     $ 149,916  
Computer equipment     348,408       183,869  
Furniture and fixtures     461,352       141,053  
Software     161,284       88,284  
Leasehold improvements     2,093,812       37,401  
Development equipment     342,142       56,275  
Base stations    
-
       117,850  
Drones    
-
       54,969  
Construction in progress     330,541       627,044  
      3,887,455       1,456,661  
Less: accumulated depreciation     (787,568 )     (424,662 )
Total property and equipment   $ 3,099,887     $ 1,031,999  

 

Depreciation expense for the years ended December 31, 2022 and 2021 was $449,458 and $116,231, respectively. For the years ended December 31, 2022 and 2021, due to obsolescence, Base station and Drone assets with a net-book value totaling $382,060 and $0, respectively, were written off.