Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

v3.21.2
Property and Equipment, Net
 6 Months Ended
Jun. 30, 2021
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net

Note 5: Property and Equipment, Net

 

The Company has property and equipment as follows as of June 30, 2021 and December 31, 2020: 

           
   

June 30,

2021

    

December 31,

2020

  
Furniture and Equipment   $ 124,585     $ 19,419  
Computer Equipment     231,097       168,122  
Leasehold Improvements     43,485       14,182  
Software     115,622       68,152  
Production Equipment     23,017       –  
Property and Equipment, Gross     537,806       269,875  
Less Accumulated Depreciation     (203,908 )     (174,047 )
Property and Equipment, Net   $ 333,898     $ 95,828  

 

During the three months ended June 30, 2021 and 2020, the Company recorded depreciation expense of $15,265 and $13,537, respectively. During the six months ended June 30, 2021 and 2020, the Company recorded depreciation expense of $29,829 and $27,075, respectively.