Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.23.2
Property and Equipment
 6 Months Ended
Jun. 30, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 4- Property and Equipment

 

Property and equipment, at cost, consist of the following:

 

       
    June 30,   December 31,
    2023   2022
Storage equipment   $ 60,288     $ 60,288  
Furniture and fixtures     20,860       20,860  
Leasehold improvements     20,983       20,983  
Computer hardware and software     112,916       93,062  
Data center equipment     7,243,885       6,973,295  
 Gross Property and equipment     7,458,932       7,168,488  
Less: Accumulated depreciation     (4,531,811 )     (4,956,698 )
Net property and equipment   $ 2,927,121     $ 2,211,790  

 

Depreciation expense for the three months ended June 30, 2023, and 2022 was $231,415 and $219,520, respectively. Depreciation expense for the six months ended June 30, 2023, and 2022 was $450,394 and $501,128, respectively.