Annual report [Section 13 and 15(d), not S-K Item 405]

Property and Equipment

v3.26.1
Property and Equipment
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 6. Property and Equipment

 

As of December 31, 2025, and 2024, property and equipment consisted of the following:

 

 

    December 31,     December 31,  
    2025     2024  
Office equipment   $ 17,061     $ 17,061  
Computer equipment     46,285       41,233  
Vehicle     35,424       35,424  
Software     1,131,091       1,358,558  
Machinery     3,257,764       3,257,764  
Leasehold improvements     397,536       397,536  
Satellite and related software     8,041,931       12,305,379  
Construction in progress     7,234,615       2,883,337  
Property and equipment, gross     20,161,707       20,296,292  
Accumulated depreciation     (5,977,328 )     (5,404,316 )
Property and equipment, net of accumulated depreciation   $ 14,184,379     $ 14,891,976  

 

As of December 31, 2025, and 2024, construction in progress represents components to be used in the manufacturing of our satellites.

 

Depreciation expense of property and equipment for the years ended December 31, 2025, and 2024 is $4,371,262 and $2,171,873 of which $3,986,792 and $1,921,649 are included as components of cost of revenue, respectively.

 

 

During the years ended December 31, 2025, and 2024, the Company purchased assets of $8,174,345 and $7,474,836, respectively.

 

During the year ended December 31, 2025, the Company impaired satellite and related software and recorded impairment loss of $4,510,680 included in selling, general and administrative expense in the statement of operations.