Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

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PROPERTY AND EQUIPMENT
 6 Months Ended
Jun. 30, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 2 – PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

 

SCHEDULE OF PROPERTY AND EQUIPMENT 

   

June 30, 2024

(Unaudited)

    

December 31,

2023

  
Production tooling, jigs, fixtures   $ 71     $ 71  
Shop equipment and machinery     3,583       3,565  
Vehicles     177       177  
Leasehold improvements     390       390  
Office equipment     185       185  
Software     106       106  
Total property and equipment, cost     4,512       4,494  
Less: accumulated depreciation and amortization     (4,271 )     (4,150 )
Property and equipment, net   $ 241     $ 344  

 

Depreciation and amortization expense on property and equipment for the three months ended June 30, 2024 and 2023 was $55 and $110, respectively. During the three months ended June 30, 2024 and 2023, $53 and $125, respectively, of the depreciation expense was included in cost of sales.

 

Depreciation and amortization expense on property and equipment for the six months ended June 30, 2024 and 2023 was $121 and $226, respectively. During the six months ended June 30, 2024 and 2023, $116 and $220, respectively, of the depreciation expense was included in cost of sales.