General form of registration statement for all companies including face-amount certificate companies

Property and Equipment, Net

v3.20.1
Property and Equipment, Net
12 Months Ended
Dec. 31, 2019
Property, Plant and Equipment [Abstract]  
Property and Equipment, net

Note 7 – Property and Equipment, net

 

Property and equipment consist of the following:

 

    As of December 31,  
    2019     2018  
Software   $ 4,729,200     $ 3,971,214  
Equipment     1,172,882       1,172,882  
Computer equipment     2,173,224       2,616,510  
Esports gaming truck     1,222,406       1,128,905  
Furniture and fixtures     1,100,256       877,472  
Production equipment     7,876,423       7,487,752  
Leasehold improvements     14,715,726       12,903,762  
      32,990,117       30,158,497  
Less: accumulated depreciation and amortization     (12,435,810 )     (8,718,400 )
Property and equipment, net   $ 20,554,307     $ 21,440,097  

 

During the years ended December 31, 2019 and 2018, depreciation and amortization expense amounted to $4,272,529 and $3,867,102 respectively. During the years ended December 31, 2019 and 2018, the Company disposed of an aggregate of $550,736 and $67,784, respectively, of fully depreciated property and equipment. The Company has $850,703 of fixed assets in process that have not yet been placed into service. No depreciation expense is recorded on fixed assets in process until such time as the assets are completed and are placed into service.