As of September 30, 2025 and December 31, 2024, property and equipment, net consist of the following:


	September 30, 2025			December 31, 2024
Land	$	1,799,372		$	2,008,132
Buildings and facilities attached to buildings		5,491,304			5,373,424
Machinery, equipment and automobiles		4,280,396			4,312,270
Aircraft		255,404			3,510,376
Software		6,212,638			4,811,260
Subtotal		18,039,114			20,015,462
Less: accumulated depreciation		(8,402,940	)		(8,749,391	)
Less: accumulated impairment		(2,640,911	)		(2,494,169	)
Property and equipment, net	$	6,995,263		$	8,771,902

Depreciation expense was $452,969 and $745,802 for the three months ended September 30, 2025 and 2024, respectively, and $1,622,009 and $2,061,341 for the nine months ended September 30, 2025 and 2024, respectively.

The Company recognized a gain on disposal of property and equipment of $403,363 and nil for the three months ended September 30, 2025 and 2024, respectively, and $414,167 and $902 for the nine months ended September 30, 2025 and 2024, respectively.