Property and Equipment

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

Note 6. Property and Equipment

At March 31, 2023 and December 31, 2022, property and equipment consisted of the following:

	March 31,			December 31,
	2023			2022
Office equipment	$	17,061		$	17,061
Computer equipment		41,233			37,296
Vehicle		28,143			28,143
Software		158,212			158,212
Machinery		3,436,011			3,386,111
Leasehold improvements		391,167			372,867
R&D software		-			386,182
Construction in progress		2,958,729			1,497,276
		7,030,556			5,883,148
Accumulated depreciation		(3,331,516	)		(3,328,156	)
Property and equipment, net of accumulated depreciation	$	3,699,040		$	2,554,992

As of March 31, 2023 and December 31, 2022, construction in progress represents components to be used in the manufacturing of our satellites.

Depreciation expense of property and equipment for the three months ended March 31, 2023 and 2022 is $3,361 and $105,211, respectively, of which $43,696 and $84,120 are included as components of cost of revenue.

During the three months ended March 31, 2023 and 2022, the Company purchased assets of $1,147,409 and $541,264, respectively.