Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT

v3.7.0.1
PROPERTY AND EQUIPMENT
 6 Months Ended
Jun. 30, 2017
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 3 – PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

  

   

June 30,

2017

(Unaudited)

    

December 31,

2016

  
Production tooling, jigs, fixtures   $ 70,749     $ 70,749  
Shop equipment and machinery     1,320,439       1,193,892  
Vehicles     83,781       51,883  
Leasehold improvements     42,173       42,173  
Office equipment     100,245       100,245  
Software     97,533       97,533  
Total property and equipment, cost     1,714,920       1,556,475  
Less: accumulated depreciation and amortization     (938,969 )     (818,889 )
Property and equipment, net   $ 775,951     $ 737,586  

 

Depreciation and amortization expense on property and equipment for the three months ended June 30, 2017 and June 30, 2016 was $60,906 and $55,666, respectively. During the three months ended June 30, 2017 and June 30, 2016, $53,232 and $49,752, respectively, of the depreciation expense was included in the balance of cost of sales.

 

Depreciation and amortization expense on property and equipment for the six months ended June 30, 2017 and June 30, 2016 was $120,080 and $96,580, respectively. During the six months ended June 30, 2017 and June 30, 2016, $104,672 and $85,021, respectively, was included in the balance of cost of sales.