Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
 9 Months Ended
Sep. 30, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 2 – PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

 

    September 30,
2023		    

December 31,

  
    (Unaudited)     2022  
Production tooling, jigs, fixtures   $ 71     $ 71  
Shop equipment and machinery     3,565       3,371  
Vehicles     177       177  
Leasehold improvements     390       390  
Office equipment     185       185  
Software     106       106  
Total property and equipment, cost     4,494       4,300  
Less: accumulated depreciation and amortization     (4,071 )     (3,762 )
Property and equipment, net   $ 423     $ 538  

 

Depreciation and amortization expense on property and equipment for the three months ended September 30, 2023 and 2022 was $82 and $124, respectively. During the three months ended September 30, 2023 and 2022, $79 and $119, respectively, of the depreciation expense was included in cost of sales.

 

Depreciation and amortization expense on property and equipment for the nine months ended September 30, 2023 and 2022 was $309 and $387, respectively. During the nine months ended September 30, 2023 and 2022, $298 and $374, respectively, of the depreciation expense was included in cost of sales.