Annual report pursuant to Section 13 and 15(d)

Property and Equipment, Net

v3.21.1
Property and Equipment, Net
 12 Months Ended
Dec. 31, 2020
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,
2020 2019
Software $ - $ 796,546
Office equipment 868,309 776,250
Computer equipment 495,643 484,643
Esports gaming truck 1,222,406 1,222,406
Furniture and fixtures 654,058 652,882
Production equipment 7,841,985 7,876,423
Leasehold improvements 4,645,760 12,622,010
15,728,161 24,431,160
Less: accumulated depreciation and amortization (6,452,432 ) (6,347,146 )
Property and equipment, net $ 9,275,729 $ 18,084,014

During the years ended December 31, 2020 and 2019, depreciation and amortization expense amounted to $3,605,539 and $3,548,810, respectively. During the year ended December 31, 2020, the Company recorded impairment expense of $5,595,557 related to its property and equipment.