Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, Net

v3.21.2
Property and Equipment, Net
 9 Months Ended
Sep. 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 September 30, 2021 and December 31, 2020: 

               
             
   

September 30,

2021

    

December 31,

2020

  
Furniture and Equipment   $ 179,905     $ 19,419  
Computer Equipment     264,357       168,122  
Leasehold Improvements     43,485       14,182  
Software     115,622       68,152  
Production Equipment     23,017       –  
Property and Equipment, Gross     626,386       269,875  
                 
Less Accumulated Depreciation     (227,172 )     (174,047 )
Property and Equipment, Net   $ 399,214     $ 95,828  

 

During the three months ended September 30, 2021 and 2020, the Company recorded depreciation expense of $23,665 and $10,206, respectively. During the nine months ended September 30, 2021 and 2020, the Company recorded depreciation expense of $53,494 and $37,281, respectively.