Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

v3.22.1
PROPERTY AND EQUIPMENT
12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]

NOTE 4 PROPERTY AND EQUIPMENT

 

Property and equipment is summarized as follows:

 

   

December 31, 2021

   

December 31, 2020

 

Leasehold improvements

  $ 165,701     $ 165,701  

Equipment, furniture, and fixtures

    3,360,315       2,900,252  
      3,526,016       3,065,953  

Less: Accumulated depreciation and amortization

    (2,889,115

)

    (2,542,913

)

                 

Property and equipment, net

  $ 636,901     $ 523,040  

 

Depreciation and amortization expense related to these assets for the years ended December 31, 2021 and 2020 was $346,202 and $314,369.

 

Property and equipment under finance leases (included in Note 7) are summarized as follows:

 

   

December 31, 2021

   

December 31, 2020

 

Equipment, furniture, and fixtures

  $ 833,574     $ 708,272  

Less: Accumulated amortization

    (495,468

)

    (433,100

)

                 

Property and equipment, net

  $ 338,106     $ 275,172