Property and Equipment

6 Months Ended

Jun. 30, 2024

Property and Equipment

Property and Equipment

6. Property and Equipment

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

	JUNE 30,		DECEMBER 31,
	2024		2023
	(Unaudited)
Computer hardware and software	$	2,980,772	$	3,355,488
Furniture and fixtures		461,318		503,913
Leasehold improvements		161,085		330,040
Automobiles		128,586		128,994
Gross property and equipment		3,731,761		4,318,435
Less: accumulated depreciation and amortization		3,114,558		3,537,635
Property and equipment, net	$	617,203	$	780,800

During the three and six month periods ended June 30, 2024 property and equipment depreciation expense was approximately $87,600 and $178,700, respectively. During the three and six month periods ended June 30, 2023, property and equipment depreciation expense was approximately $78,600 and 195,000, respectively.

During the three month periods ended June 30, 2024, the Company disposed of fully depreciated property and equipment with a historical cost and accumulated depreciation of approximately $571,600. There were no material disposals of owned property and equipment during the three month period ended June 30, 2023.

There were no changes in the estimated useful lives used to depreciate property and equipment during the three  and six month periods ended June 30, 2024 and 2023.