Annual report pursuant to Section 13 and 15(d)

6. Property and Equipment, net

v3.20.4
6. Property and Equipment, net
 12 Months Ended
Dec. 31, 2020
Property, Plant and Equipment [Abstract]  
Property and Equipment, net
6. Property and Equipment, net

 

Property and equipment, net consists of the following:

 

    December 31,
2020		     December 31,
2019		  
Office and computer equipment   $ 42,289     $ 42,289  
Furniture and fixtures     14,738       14,738  
Property and equipment – at cost     57,027       57,027  
Less accumulated depreciation     (57,027 )     (56,270 )
Property and equipment, net   $ –     $ 757  

 

Depreciation expense was approximately $1,000 and $4,000 for the years ended December 31, 2020 and 2019, respectively. During the year ended December 31, 2019, the Company sold certain furniture and fixtures for $2,000 resulting in an approximate $2,000 gain.