Property and Equipment

9 Months Ended

Sep. 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:

	SEPTEMBER 30,		DECEMBER 31,
	2024		2023
	(Unaudited)
Computer hardware and software	$	3,064,664	$	3,355,488
Furniture and fixtures		464,970		503,913
Leasehold improvements		165,661		330,040
Automobiles		135,694		128,994
Gross property and equipment		3,830,989		4,318,435
Less: accumulated depreciation and amortization		3,242,236		3,537,635
Property and equipment, net	$	588,753	$	780,800

During the three and nine month periods ended September 30, 2024 property and equipment depreciation expense was approximately $100,900 and $268,300, respectively. During the three and nine month periods ended September 30, 2023, property and equipment depreciation expense was approximately $91,900 and $281,900, respectively.

There were no material disposals during the three month period ended September 30, 2024. During the nine month period ended September 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 and nine month periods ended September 30. 2023.

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, 2024 and 2023.