Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.22.2.2
Property and Equipment
 9 Months Ended
Sep. 30, 2022
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 4- Property and Equipment

 

Property and equipment, at cost, consist of the following:

 

               
    September 30,   December 31,
    2022   2021
Storage equipment   $ 60,288     $ 476,887  
Furniture and fixtures     20,860       19,491  
Leasehold improvements     20,983       20,983  
Computer hardware and software     93,062       317,729  
Data center equipment     6,908,602       5,760,146  
 Gross Property and equipment     7,103,795       6,595,236  
Less: Accumulated depreciation     (4,732,846 )     (4,657,765 )
Net property and equipment   $ 2,370,949     $ 1,937,471  

 

Depreciation expense for the three months ended September 30, 2022 and 2021 was $222,009 and $229,427, respectively. Depreciation expense for the nine months ended September 30, 2022 and 2021 was $724,315 and $709,195, respectively.