Annual report pursuant to Section 13 and 15(d)

Note 7 - Property and Equipment

v3.23.1
Note 7 - Property and Equipment
12 Months Ended
Dec. 31, 2022
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

Note 7.         Property and Equipment

 

Property and equipment consist of the following as of December 31:

 

   

2022

   

2021

 
Software development costs   $ 498,425     $ -  

Computer equipment and purchased software

    365,874       328,397  

Furniture and equipment

    117,307       117,307  

Leasehold improvements

    7,438       7,438  

Property and equipment, gross

    989,044       453,142  

Less: Accumulated depreciation

    (391,628 )     (347,886 )

Property and equipment, net

  $ 597,416     $ 105,256  

 

Depreciation and amortization expense related to property and equipment for the years ended December 31, 2022 and 2021, totaled $43,742 and $35,566, respectively. During 2022, we recorded $498,425 of capitalized internal use software development costs related to the Blockchain SCM segment and zero amortization of software development costs.