Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.24.2.u1
Property and Equipment
 6 Months Ended
Jun. 30, 2024
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,
    2024   2023
Storage equipment   $ 60,288     $ 60,288  
Furniture and fixtures     32,356       21,625  
Leasehold improvements     20,983       20,983  
Computer hardware and software     126,232       117,379  
Data center equipment     8,500,937       7,617,950  
 Gross Property and equipment     8,740,796       7,838,225  
Less: Accumulated depreciation     (5,602,454 )     (5,105,451 )
Net property and equipment   $ 3,138,342     $ 2,732,774  

 

Depreciation expense for the three months ended June 30, 2024, and 2023 was $270,952 and $231,415, respectively. Depreciation expense for the six months ended June 30, 2024, and 2023 was $497,003 and $450,394, respectively.