Quarterly report [Sections 13 or 15(d)]

Property and Equipment

v3.26.1
Property and Equipment
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment consisted of the following:
Useful
 Life (years)		 June 30,
2026		 December 31,
2025
Land $ 444,435  $ 444,435 
Leasehold improvements 5 1,828,533  1,823,586 
Property & equipment
3-5 years
 15,885,075  11,242,513 
Technology hardware equipment
3-5 years
 1,973,983  1,973,983 
Total 20,132,026  15,484,517 
Less accumulated depreciation (7,353,103) (6,127,543)
Construction in progress 7,821,152  12,470,795 
Total property and equipment, net $ 20,600,075  $ 21,827,769 
Depreciation expense for the three and six months ended June 30, 2026 and June 30, 2025 was $653,519 and $1,229,410 and $574,563 and $1,054,939, respectively. During the six months ended June 30, 2026, $4,649,643 of construction in progress was reallocated to property and equipment.