Property and Equipment

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

Note 5 – Property and Equipment

Property and equipment consisted of the following:

					Estimated Useful
	March 31, 2023		December 31, 2022		Lives (Years)
Leasehold Improvements	$	178,278	$	178,278		40
Vehicles		53,777		53,777		5 - 10
Furniture		19,595		19,595		10
Equipment		9,408		9,408		5
		261,058		261,058
Accumulated depreciation		181,775		180,214
Total property and equipment - net	$	79,283	$	80,844

FOMO WORLDWIDE, INC AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2023

UNAUDITED

Depreciation expense for the three months ended March 31, 2023 and 2022, was $1,561 and $579, respectively.

These amounts are included as a component of general and administrative expenses in the accompanying Consolidated Statements of Operations.

In connection with the acquisition of SST on February 28, 2022, the Company acquired property and equipment with a net carrying amount of $82,553.

See Note 9.