Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

v3.19.1
PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2018
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 3 – PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

 

    December 31,
2018 		    December 31,
2017 		 
Production tooling, jigs, fixtures   $ 70,749     $ 70,749  
Shop equipment and machinery     2,808,928       1,451,423  
Vehicles     188,597       122,264  
Leasehold improvements     276,901       42,173  
Office equipment     134,995       114,454  
Software     102,690       97,533  
Total property and equipment, cost     3,582,860       1,898,596  
Less: accumulated depreciation and amortization     (1,460,103 )     (1,074,520 )
Property and equipment, net   $ 2,122,757     $ 824,076  

 

Depreciation and amortization expense on property and equipment for the years ended December 31, 2018 and 2017 was $385,583 and $255,631, respectively. During the years ended December 31, 2018 and 2017, $349,750 and $224,535, respectively, of the depreciation expense were included in the balance of cost of sales for the years then ended.