Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

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

NOTE 2 – PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

 

   

September 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     (4,295 )     (4,150 )
Property and equipment, net   $ 217     $ 344  

 

Depreciation and amortization expense on property and equipment for the three months ended September 30, 2024 and 2023 was $25 and $82, respectively. During the three months ended September 30, 2024 and 2023, $23 and $79, 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, 2024 and 2023 was $146 and $309, respectively. During the nine months ended September 30, 2024 and 2023, $140 and $298, respectively, of the depreciation expense was included in cost of sales.