Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.22.2.2
PROPERTY AND EQUIPMENT
 9 Months Ended
Sep. 30, 2022
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 2 – PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

 

   

September 30,

2022

(Unaudited)

   

December 31,

2021

  
Production tooling, jigs, fixtures   $ 71     $ 71  
Shop equipment and machinery     3,371       3,350  
Vehicles     181       180  
Leasehold improvements     390       390  
Office equipment     185       181  
Software     106       106  
Total property and equipment, cost     4,304       4,278  
Less: accumulated depreciation and amortization     (3,647 )     (3,259 )
Property and equipment, net   $ 657     $ 1,019  

 

Depreciation and amortization expense on property and equipment for the three months ended September 30, 2022 and 2021 was $124 and $134, respectively. During the three months ended September 30, 2022 and 2021, $119 and $129, respectively, of the depreciation expense was included in the balance of cost of sales.

 

Depreciation and amortization expense on property and equipment for the nine months ended September 30, 2022 and 2021 was $387 and $420, respectively. During the nine months ended September 30, 2022 and 2021, $374 and $402, respectively, of the depreciation expense was included in the balance of cost of sales.