Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
 9 Months Ended
Sep. 30, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 2 — PROPERTY AND EQUIPMENT

 

Property and equipment consists of the following at:

 

    September 30, 2024   December 31, 2023  
               
Furniture and office equipment   $ 1,433,622   $ 1,412,164  
Leasehold improvements     1,953,653     1,953,653  
Manufacturing equipment and tooling     4,504,610     3,193,113  
Total property and equipment     7,891,885     6,558,930  
Less: accumulated depreciation and amortization     (3,339,709 )   (2,721,273 )
Property and equipment, net   $ 4,552,176   $ 3,837,657  

 

Depreciation and amortization expense was $227,785 and $199,880 for the three months ended September 30, 2024 and 2023, respectively, and $677,019 and $593,979 for the nine months ended September 30, 2024 and 2023, respectively.