Quarterly report [Sections 13 or 15(d)]

Property and Equipment

v3.26.1
Property and Equipment
 3 Months Ended
Mar. 31, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment

Note 5 – Property and Equipment

 

At March 31, 2026 and December 31, 2025, property and equipment consisted of the following:

           
    March 31, 2026     December 31, 2025  
Building improvement   $ 14,620     $ 14,620  
Furniture and fixtures     42,881       42,676  
Equipment     170,022       168,749  
Software     1,995       1,995  
Total cost     229,518       228,040  
Less accumulated depreciation     (168,597 )     (161,335 )
Property and equipment, net   $ 60,921     $ 66,705  

 

Depreciation expense for the three months ended March 31, 2026 and 2025 amounted to $6,722 and $5,453, respectively.

 

As of March 31, 2026, the Company had placed a $525,000 deposit on a purchase of a building which is recorded in other assets on the accompanying balance sheet. The building was subsequently purchased for $17,700,000 (See Note 11).