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Fixed Assets
6 Months Ended
Jun. 30, 2024
Fixed Assets  
Fixed Assets

Note 4

Fixed Assets

The components of fixed assets are summarized below:

    

June 30, 2024

    

December 31, 2023

Office equipment

$

19,264

$

3,335

Medical equipment

 

122,095

 

1,000

Furniture

 

5,045

 

Leased equipment

736,624

Leasehold improvements

 

6,604

 

 

889,632

 

4,335

Less accumulated depreciation

 

(6,309)

 

(678)

Fixed Assets, net

$

883,323

$

3,657

The Company (as the successor of VSee Lab for accounting purposes) recorded $1,473 and $157 in depreciation expense during the three months ended June 30, 2024 and 2023, respectively. The Company (as the successor of VSee Lab for accounting purposes) recorded $2,091 and $204 in depreciation expense during the six months ended June 30, 2024 and 2023, respectively. Amortization on the leased equipment is included in the accumulated depreciation. During the three and six months ended June 30, 2024, the Company (as the successor of VSee Lab for accounting purposes) recorded $3,540 in amortization expenses (See further Note 5 – Leases). The Company had no amortization expenses during the three and six months ended, June 30, 2023.

As a result of the acquisition of iDoc due to closing of the Business Combination on June 24, 2024 (See Note 3 – Business Combination), the Company acquired at fair value, $736,624, $79,801, $11,709, $6,604 and $5,045 of leased equipment, medical equipment, office equipment, leasehold improvements and furniture, respectively.