Property and Equipment
|12 Months Ended|
Dec. 31, 2020
|Property and Equipment|
|Property and Equipment||
6. Property and Equipment
Property and equipment are recorded at cost and depreciated using the straight-line method over estimated useful lives ranging generally from five to seven years. Expenditures for maintenance and repairs are charged to expense as incurred.
Property and equipment consisted of the following at:
Depreciation expense totaled $218,951 and $227,296 for the years ended December 31, 2020 and 2019, respectively.
The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef