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 5 – Property and Equipment

 

Property and equipment at September 30, 2022 and December 31, 2021 consisted of the following:

 

    September 30,     December 31,  
    2022     2021  
Software   $ 1,435,875     $ 1,435,875  
Furniture     8,227       8,227  
Office equipment     30,931       30,931  
Computer equipment     324,131       324,131  
Property and equipment, gross     1,799,164       1,799,164  
Less accumulated depreciation     (1,799,164 )     (1,799,164 )
Property and equipment, net   $ —     $ —  

 

 

Depreciation expense on property and equipment was $0 and $237 for the three months ended September 30, 2022 and 2021, respectively, and $0 and $711 for the nine months ended September 30, 2022 and 2021, respectively. Management periodically reviews the valuation of long-lived assets, including property and equipment, for potential impairment.