Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.23.2
Property and Equipment
 6 Months Ended
Jun. 30, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 6 – Property and Equipment

 

As of June 30, 2023 and December 31, 2022, property and equipment consisted of the following:

           
    June 30, 2023     December 31, 2022  
Warehouse   $ 3,789,773     $ 3,789,773  
Land     731,515       731,515  
Building improvement     240,256       240,256  
Furniture and fixture     38,917       37,785  
Equipment     115,061       101,076  
Software     1,995       1,995  
Total cost     4,917,517       4,902,400  
Less accumulated depreciation     (758,014 )     (673,770 )
Property and equipment, net   $ 4,159,503     $ 4,228,630  

 

Depreciation expense for the three months ended June 30, 2023 and 2022 amounted to $42,209 and $41,898, respectively. Depreciation expense for the six months ended June 30, 2023 and 2022 amounted to $84,616 and $82,063, respectively.