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Property and Equipment
 9 Months Ended
Sep. 30, 2022
Property and Equipment  
Property and Equipment

8.

Property and Equipment

 

Major classes of property and equipment consisted of the following as of the dates presented below:

 

 

 

SEPTEMBER 30,

 

 

DECEMBER 31,

 

 

 

2022

 

 

2021

 

 

 

(Unaudited)

 

Computer hardware and software

 

$3,084,769

 

 

$2,700,807

 

Furniture and fixtures

 

 

491,772

 

 

 

454,401

 

Leasehold improvements

 

 

264,675

 

 

 

298,352

 

Automobiles

 

 

112,704

 

 

 

137,105

 

Gross property and equipment

 

 

3,953,920

 

 

 

3,590,665

 

Less: accumulated depreciation and

 

 

 

 

 

 

 

 

amortization

 

 

2,891,306

 

 

 

2,749,532

 

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

$1,062,614

 

 

$841,133

 

 

During the three month and nine month periods ended September 30, 2022, property and equipment depreciation expense was approximately $102,000 and $305,100, respectively. During the three month and nine month periods ended September 30, 2021, property and equipment depreciation expense was approximately $89,200 and $248,900, respectively.

During the nine month periods ended September 30, 2022 and 2021, there were no material disposals of owned property and equipment. 

 

There were no changes in the estimated useful lives used to depreciate property and equipment during the three and nine month periods ended September 30, 2022 and 2021.