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

Property and Equipment

v3.25.1
Property and Equipment
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 4- Property and Equipment

 

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

 

               
    December 31,   December 31,
    2024   2023
Storage equipment   $ 60,288     $ 60,288  
Furniture and fixtures     30,305       21,625  
Leasehold improvements     573,117       20,983  
Computer hardware and software     140,288       117,379  
Data center equipment     8,794,965       7,617,950  
 Gross Property and equipment     9,598,963       7,838,225  
Less: Accumulated depreciation     (6,159,307 )     (5,105,451 )
Net property and equipment   $ 3,439,656     $ 2,732,774  

 

Depreciation expense for the years ended December 31, 2024, and 2023 was $1,079,160 and $1,024,034, respectively, of which $1,067,006 and $1,008,429, respectively, was allocated to general and administrative expenses and $12,154 and $15,605 respectively, was allocated to cost of goods sold.