Property and equipment, net

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property and equipment, net

Note 7 – Property and equipment, net

Property and equipment consist of the following:

	December 31, 2021			December 31, 2020
Electronic devices	$	86,371		$	161,571
Office equipment, fixtures and furniture		237,217			83,380
Automobile		60,352			58,943
Computer and network equipment		403,410			369,654
Leasehold improvement		418,261			346,478
Construction in progress*		—			1,971,568
Subtotal		1,205,611			2,991,594
Less: accumulated depreciation and amortization		(951,020	)		(798,405	)
Total	$	254,591		$	2,193,189

Depreciation expense for the years ended December 31, 2021, 2020 and 2019, amounted to $96,212, $84,249 and $119,461, respectively. In 2019, the Company disposed of $28,142 of electronic equipment with accumulated depreciation of $27,298 for gross proceeds of $539 resulting in a loss on disposal of equipment of $305.

Construction-in-progress consists of the Guiyang Longdongbao Project (the cloud computing facility in Guiyang) and the Company completed the initial stage of the project, which included demolition, underground structure and design. The Company is currently in negotiation with various contractors for the construction of the facility and was in the progress of obtaining various government permits for the start of construction. Due to further delays of the project related to local governments’ limitation of economic activities in response to the resurgence of COVID-19 variants, the Company recorded impairment loss of $2.0 million of its construction in progress for the year ended December 31, 2021.