Property and Equipment
|12 Months Ended|
Dec. 31, 2020
|Property, Plant and Equipment [Abstract]|
|Property and Equipmrnt||
4. PROPERTY AND EQUIPMENT
Property and equipment consist of the following:
During the year ended December 31, 2020, upon terminating its New York City lease, the Company wrote-off approximately $164,000 of fully amortized leasehold improvements.
Depreciation and amortization of property and equipment was $170,189 and $196,438 for the years ended December 31, 2020 and 2019, respectively. Most of the Company’s property and equipment is located in Argentina and gross asset costs and accumulated depreciation reported in US dollars are impacted by the devaluation of the Argentine peso relative to the U.S. dollar.
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