Property and Equipment

12 Months Ended

Dec. 31, 2024

Property and Equipment

Property and Equipment

7. Property and Equipment

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

	DECEMBER 31,		DECEMBER 31,
	2024		2023
Computer hardware and software	$	3,052,569	$	3,355,488
Furniture and fixtures		382,419		503,913
Leasehold improvements		157,715		330,040
Automobiles		127,233		128,994
Gross property and equipment		3,719,936		4,318,435
Less: accumulated depreciation and amortization		3,175,213		3,537,635
Property and equipment, net	$	544,723	$	780,800

During the years ended December 31, 2024 and 2023, the Company purchased for cash property and equipment totaling approximately $117,900 and $208,200, respectively.

During the years ended December 31, 2024 and 2023, property and equipment depreciation expense was approximately $353,400 and $411,000, respectively.

During the year ended December 31, 2024, the Company disposed of owned fully depreciated property and equipment with historical costs and accumulated depreciation of $663,000. During the year ended December 31, 2023, there were no material disposals of property and equipment.

There were no changes in the estimated useful lives used to depreciate property and equipment during the years ended December 31, 2024 and 2023.