Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment, net

v3.22.4
Property and Equipment, net
 6 Months Ended
Jun. 30, 2022
Property, Plant and Equipment [Abstract]  
Property and Equipment, net

Note 6 — Property and Equipment, net

 

As of June 30, 2022 and December 31, 2021, property and equipment consisted of the following:

  

   

June 30,

2022

    

December 31,

2021

  
Software   $ 147,792     $ 147,792  
Furniture and fixtures     188,559       280,926  
Computers     118,351       7,003  
Leasehold improvements     432,363       800,746  
Equipment     248,743       5,358,997  
Construction in progress     184,543       -  
Property, plant and equipment,gross     1,320,352       6,595,465  
Less: accumulated depreciation     (559,360 )     (5,218,714 )
Total property and equipment, net   $ 760,992     $ 368,981  

 

Depreciation expense for the six months ended June 30, 2022 and 2021 was $115,712 and $65,623, respectively. Depreciation expense for the three months ended June 30, 2022 and 2021 was $65,984 and $32,811, respectively. As of June 29, 2022 and December 31, 2021, the Cryptyde Businesses had total property and equipment, net of $1,193,133 and $1,007,770, respectively.