Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.22.1
PROPERTY AND EQUIPMENT
3 Months Ended
Mar. 31, 2022
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]

NOTE 4 PROPERTY AND EQUIPMENT

 

Property and equipment is summarized as follows:

 

   

March 31, 2022

   

December 31, 2021

 

Leasehold improvements

  $ 165,701     $ 165,701  

Equipment, furniture and fixtures

    3,390,863       3,360,315  
      3,556,564       3,526,016  

Less: Accumulated depreciation and amortization

    (2,987,540

)

    (2,889,115

)

                 

Property and equipment, net

  $ 569,024     $ 636,901  

 

Depreciation and amortization expense related to these assets for the three months ended March 31, 2022 and 2021 was $98,425 and $78,304, respectively.

 

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

 

   

March 31, 2022

   

December 31, 2021

 

Equipment, furniture, and fixtures

  $ 833,574     $ 833,574  

Less: Accumulated amortization

    (552,921

)

    (495,468

)

                 

Property and equipment, net

  $ 280,653     $ 338,106