Property and Equipment

12 Months Ended

Dec. 31, 2020

Gemini Direct Investment LLC and Subsidiaries [Member]

Property and Equipment

4. PROPERTY AND EQUIPMENT

Property and equipment consists of the following at December 31, 2020 and 2019:

	2020			2019
PROPERTY AND EQUIPMENT
Software	$	14,758,077		$	13,498,355
Mobile app		539,325			539,325
Equipment		1,726,296			1,577,563
Backup data center		607,825			607,825
Furniture and fixtures		663,838			663,838
Website design		2,527,138			2,254,497
Advanced retail segmentation		99,912			99,912
Fixed asset in progress		32,334			33,395
		20,954,745			19,274,710
Less: accumulated depreciation		(15,124,413	)		(13,138,367	)
NET PROPERTY AND EQUIPMENT	$	5,830,332		$	6,136,343

Depreciation and amortization expense was $1,986,050 and $2,005,743 for the years ended December 31, 2020 and 2019, respectively. These amounts include amortization of capitalized software development costs as described in Note 2.