PROPERTY, EQUIPMENT, NET OF ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

PROPERTY, EQUIPMENT, NET OF ACCUMULATED DEPRECIATION

NOTE 3 – PROPERTY, EQUIPMENT, NET OF ACCUMULATED DEPRECIATION

Property and equipment, net including any major improvements, are recorded at historical cost. The cost of repairs and maintenance is charged against operations as incurred. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets, generally as follows:

	Estimated Life
Computers and technological assets	3 – 5 Years
Furniture and fixtures	3 – 5 Years
Machinery and equipment	5 – 10 Years
Leasehold improvement	10 Years

Property and equipment, net consists of the following:

	December 31, 2022			December 31, 2021
Computers and technological assets	$	3,776,320		$	3,514,421
Furniture and fixtures		55,950			55,950
Machinery and equipment		7,765,466			7,530,787
Land		92,222			92,222
Leasehold Improvements		1,508,915			1,508,915
Total		13,198,873			12,702,295
Less accumulated depreciation		(5,522,878	)		(3,862,313	)
Total Property and equipment, net	$	7,675,995		$	8,839,982

Depreciation expenses for the years ended December 31, 2022 and 2021 were $1,669,690 and $1,675,786 respectively.