SurgePays Inc. Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

6 Months Ended

Jun. 30, 2021

Note 3 – Property and Equipment

Property and equipment consisted of the following:

Schedule of Property and Equipment

							Estimated Useful
Type	June 30, 2021			December 31, 2020			Lives (Years)

Computer equipment and software	$	315,138		$	273,256		3 - 5
Furniture and fixtures		45,684			47,526		5 - 7
Leasehold improvements		1,789			21,512		15
Property and equipment, gross		362,611			342,294
Less: accumulated depreciation		(133,200	)		(105,484	)
Property and equipment - net	$	229,411		$	236,810

Depreciation expense for the three months ended June 30, 2021 and 2020 was $16,905 and $15,557, respectively.

Depreciation expense for the six months ended June 30, 2021 and 2020 was $32,736 and $30,981, respectively.

These amounts are included as a component of general and administrative expenses in the accompanying consolidated statements of operations.

In connection with the deconsolidation of TW, the Company disposed of property and equipment with a net carrying amount of $20,645.