| Property and Equipment |
Note
5. Property and Equipment
As
of June 30, 2026 and December 31, 2025, property and equipment consisted of the following:
Schedule
of Property and Equipment
| |
|
June 30, |
|
|
December 31, |
|
| |
|
2026 |
|
|
2025 |
|
| Office equipment |
|
$ |
17,061 |
|
|
$ |
17,061 |
|
| Computer equipment |
|
|
46,285 |
|
|
|
46,285 |
|
| Vehicle |
|
|
67,162 |
|
|
|
35,424 |
|
| Software |
|
|
1,131,091 |
|
|
|
1,131,091 |
|
| Machinery |
|
|
3,287,608 |
|
|
|
3,257,764 |
|
| Leasehold improvements |
|
|
397,536 |
|
|
|
397,536 |
|
| Satellite and related software |
|
|
8,048,931 |
|
|
|
8,041,931 |
|
| Construction in progress |
|
|
14,500,488 |
|
|
|
7,234,615 |
|
| Property and equipment, gross |
|
|
27,496,162 |
|
|
|
20,161,707 |
|
| Accumulated depreciation |
|
|
(7,196,890 |
) |
|
|
(5,977,328 |
) |
| Property and equipment, net of accumulated depreciation |
|
$ |
20,299,272 |
|
|
$ |
14,184,379 |
|
As
of June 30, 2026 and December 31, 2025, construction in progress represents components to be used in the manufacturing of our satellites.
During
the six months ended June 30, 2026 and 2025, the Company purchased assets of $7,334,455 and $4,354,130, respectively.
Depreciation
expenses of property and equipment for the three and six months ended June 30, 2026 and 2025 are as follows.
Schedule
of Depreciation
Expenses
| |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
| |
|
For the three months ended
June 30,
|
|
|
For the six months ended
June 30,
|
|
| Depreciation expense included as component of |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
| Selling, general and administrative |
|
$ |
88,356 |
|
|
$ |
98,403 |
|
|
$ |
181,325 |
|
|
$ |
196,721 |
|
| Cost of revenue |
|
|
519,600 |
|
|
|
1,033,893 |
|
|
|
1,038,237 |
|
|
|
1,870,248 |
|
| Depreciation expense |
|
$ |
607,956 |
|
|
$ |
1,132,296 |
|
|
$ |
1,219,562 |
|
|
$ |
2,066,969 |
|
|